Ardmore Shipping (ASC) Ascends While Market Falls: Some Facts to Note

Company Overview - Ardmore Shipping (ASC) closed at $20.81, reflecting a +0.19% change from the previous trading day, outperforming the S&P 500 which lost 0.51% [1] - Over the past month, Ardmore Shipping shares have decreased by 8.5%, underperforming the Transportation sector's loss of 1.66% and the S&P 500's loss of 0.26% [1] Upcoming Earnings - The earnings report for Ardmore Shipping is expected on July 31, 2024, with projected earnings of$ 1.07 per share, indicating a year-over-year growth of 87.72% [1] - Revenue is anticipated to be $79.79 million, representing a 32.1% increase from the same quarter last year [1] Annual Estimates - For the annual period, Zacks Consensus Estimates predict earnings of$ 3.33 per share and revenue of $280.31 million, reflecting increases of +22.88% and +6.15% respectively from the previous year [2] Analyst Forecasts - Recent revisions to analyst forecasts for Ardmore Shipping are crucial as they indicate changing business trends, with positive revisions suggesting optimism about the company's outlook [2] Zacks Rank and Valuation - Ardmore Shipping holds a Zacks Rank of 1 (Strong Buy), with an average annual return of +25% for 1 ranked stocks since 1988 [3] - The company is currently trading at a Forward P/E ratio of 6.25, which is below the industry average of 7.94, indicating a discount relative to its peers [3] Industry Context - The Transportation - Shipping industry is ranked 93rd in the Zacks Industry Rank, placing it in the top 37% of over 250 industries [3] - The top 50% rated industries outperform the bottom half by a factor of 2 to 1, highlighting the competitive nature of the industry [4]