Global Ship Lease (GSL) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Global Ship Lease (GSL) closed at $19.62, marking a -0.61% move from the previous day. This change lagged the S&P 500's daily loss of 0.2%. Meanwhile, the Dow lost 0.38%, and the Nasdaq, a tech-heavy index, lost 9.78%.
Heading into today, shares of the containership owner had gained 5.17% over the past month, lagging the Transportation sector's gain of 10.25% and outpacing the S&P 500's gain of 4.16% in that time.
Investors will be hoping for strength from Global Ship Lease as it approaches its next earnings release. The company is expected to report EPS of $2.08, up 12.43% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $158.18 million, up 2.41% from the year-ago period.
GSL's full-year Zacks Consensus Estimates are calling for earnings of $8.87 per share and revenue of $654.81 million. These results would represent year-over-year changes of +8.83% and +1.42%, respectively.
Investors should also note any recent changes to analyst estimates for Global Ship Lease. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Global Ship Lease is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note Global Ship Lease's current valuation metrics, including its Forward P/E ratio of 2.23. For comparison, its industry has an average Forward P/E of 5.97, which means Global Ship Lease is trading at a discount to the group.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 217, putting it in the bottom 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the 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.
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Global Ship Lease, Inc. (GSL) : Free Stock Analysis Report
