Ardmore Shipping(US:ASC) Zacks Investment Researchยท2024-03-20 22:56Core Viewpoint - Ardmore Shipping's recent trading performance shows a slight decline, underperforming major indices, while upcoming financial results are anticipated to reflect a significant year-over-year decline in earnings and revenue [1][2]. Company Performance - Ardmore Shipping's stock closed at $16.39, reflecting a -0.06% change from the previous day, while the S&P 500 gained 0.89% [1]. - Over the past month, Ardmore Shipping's shares increased by 2.31%, outperforming the Transportation sector's 0.81% gain but underperforming the S&P 500's 3.56% increase [1]. - The company is projected to report earnings of $0.77 per share, indicating a year-over-year decline of 25.96%, with expected revenue of $68.13 million, down 16.58% from the same quarter last year [1]. Fiscal Year Estimates - For the entire fiscal year, earnings are estimated at $2.60 per share and revenue at $249.15 million, reflecting declines of -4.06% and -5.65% respectively from the previous year [2]. - Changes in analyst estimates for Ardmore Shipping are crucial as they reflect short-term business trends, with upward revisions indicating positive sentiment towards the company's operations [2]. Valuation and Industry Ranking - Ardmore Shipping currently has a Forward P/E ratio of 6.32, which is lower than the industry average of 8.22, suggesting a valuation discount [3]. - The Transportation - Shipping industry holds a Zacks Industry Rank of 90, placing it in the top 36% of over 250 industries, indicating strong performance relative to peers [3].