Why the Market Dipped But Ardmore Shipping (ASC) Gained Today

Ardmore Shipping (ASC) closed the most recent trading day at $10.40, moving +1.46% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.79%. At the same time, the Dow lost 0.94%, and the tech-heavy Nasdaq lost 0.92%. The shipping company's shares have seen an increase of 6.88% over the last month, surpassing the Transportation sector's gain of 5% and the S&P 500's gain of 5.22%.Market participants will be closely following the financial results of Ardmore Shipping in its upcoming release. Our most recent consensus estimate is calling for quarterly revenue of $44.45 million, down 48.68% from the year-ago period. 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 pay attention to any latest changes in analyst estimates for Ardmore Shipping. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability. Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model. The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 16.24% higher. Ardmore Shipping is holding a Zacks Rank of #1 (Strong Buy) right now. In terms of valuation, Ardmore Shipping is currently trading at a Forward P/E ratio of 7.54. This signifies a discount in comparison to the average Forward P/E of 9.12 for its industry. The Transportation - Shipping industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 30, finds itself in the top 13% echelons of all 250+ industries. The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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. Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent. Thousands have taken advantage of this opportunity.Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators, and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>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