Global Ship Lease (GSL) Gains But Lags Market: What You Should Know
In the latest trading session, Global Ship Lease (GSL) closed at $19.05, marking a +0.85% move from the previous day. The stock lagged the S&P 500's daily gain of 1.15%. Meanwhile, the Dow gained 0.63%, and the Nasdaq, a tech-heavy index, added 7.23%.
Coming into today, shares of the containership owner had gained 4.71% in the past month. In that same time, the Transportation sector gained 4.41%, while the S&P 500 gained 3.08%.
Global Ship Lease will be looking to display strength as it nears its next earnings release. In that report, analysts expect Global Ship Lease to post earnings of $2.08 per share. This would mark year-over-year growth of 12.43%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $158.18 million, up 2.41% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.87 per share and revenue of $654.81 million. These totals would mark changes of +8.83% and +1.42%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Global Ship Lease. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Global Ship Lease is holding a Zacks Rank of #1 (Strong Buy) right now.
Valuation is also important, so investors should note that Global Ship Lease has a Forward P/E ratio of 2.13 right now. For comparison, its industry has an average Forward P/E of 5.72, which means Global Ship Lease is trading at a discount to the group.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 177, which puts it in the bottom 30% 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
