Ardmore Shipping (ASC) Falls More Steeply Than Broader Market: What Investors Need to Know

Ardmore Shipping (ASC) closed the most recent trading day at $11.67, moving -1.68% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 0.76%. Elsewhere, the Dow saw a downswing of 0.28%, while the tech-heavy Nasdaq depreciated by 1.2%.The shipping company's shares have seen a decrease of 3.81% over the last month, not keeping up with the Transportation sector's gain of 5.97% and the S&P 500's gain of 2.71%.The investment community will be closely monitoring the performance of Ardmore Shipping in its forthcoming earnings report. The company's upcoming EPS is projected at $0.33, signifying a 47.62% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $53.93 million, down 17.93% from the year-ago period.It's also important for investors to be aware of any recent modifications to analyst estimates for Ardmore Shipping. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.28% lower. Ardmore Shipping presently features a Zacks Rank of #5 (Strong Sell).With respect to valuation, Ardmore Shipping is currently being traded at a Forward P/E ratio of 8.96. This denotes a premium relative to the industry's average Forward P/E of 8.57.The Transportation - Shipping industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 239, positioning it in the bottom 5% of all 250+ industries.The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.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 228 positions with double- and triple-digit gains in 2023 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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks