Ardmore Shipping (ASC) Stock Falls Amid Market Uptick: What Investors Need to Know

Ardmore Shipping (ASC) closed at $10.23 in the latest trading session, marking a -2.39% move from the prior day. The stock's change was less than the S&P 500's daily gain of 0.14%. Meanwhile, the Dow experienced a rise of 0.2%, and the technology-dominated Nasdaq saw an increase of 0.27%. The shipping company's stock has climbed by 2.85% in the past month, falling short of the Transportation sector's gain of 3.94% and the S&P 500's gain of 3.97%.Analysts and investors alike will be keeping a close eye on the performance of Ardmore Shipping in its upcoming earnings disclosure. Simultaneously, our latest consensus estimate expects the revenue to be $44.45 million, showing a 48.68% drop compared to the year-ago quarter. For the full year, the Zacks Consensus Estimates project earnings of $1.36 per share and a revenue of $180.69 million, demonstrating changes of -52.11% and -33.85%, respectively, from the preceding year. Investors should also note any recent changes to analyst estimates for Ardmore Shipping. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook. Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system. The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 16.24% upward. Ardmore Shipping presently features a Zacks Rank of #2 (Buy). Valuation is also important, so investors should note that Ardmore Shipping has a Forward P/E ratio of 7.71 right now. Its industry sports an average Forward P/E of 9.26, so one might conclude that Ardmore Shipping is trading at a discount comparatively. The Transportation - Shipping industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 27, positioning it in the top 11% of all 250+ industries. The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com. Should You Invest in Ardmore Shipping Corporation (ASC)?Before you invest in Ardmore Shipping Corporation (ASC), want to know the best stocks to buy for the next 30 days? Check out Zacks Investment Research for our free report on the 7 best stocks to buy.Zacks Investment Research has been committed to providing investors with tools and independent research since 1978. For more than a quarter century, the Zacks Rank stock-rating system has more than doubled the S&P 500 with an average gain of +24.08% per year. (These returns cover a period from January 1, 1988 through May 6, 2024.)Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ardmore Shipping Corporation (ASC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks