Published on 10 May 2024 on Zacks via Yahoo Finance
Ardmore Shipping Corporation (ASC) Hit a 52 Week High, Can the Run Continue?
Have you been paying attention to shares of Ardmore Shipping (ASC)? Shares have been on the move with the stock up 30.1% over the past month. The stock hit a new 52-week high of $20.52 in the previous session. Ardmore Shipping has gained 44.4% since the start of the year compared to the 0% move for the Zacks Transportation sector and the 13.8% return for the Zacks Transportation - Shipping industry.
What's Driving the Outperformance?
The stock has a great record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any of the last four quarters. In its last earnings report on May 8, 2024, Ardmore Shipping reported EPS of $0.92 versus consensus estimate of $0.87 while it beat the consensus revenue estimate by 2.95%.