Global Ship Lease (GSL) Gains As Market Dips: What You Should Know
In the latest trading session, Global Ship Lease (GSL) closed at $18.22, marking a +0.33% move from the previous day. This change outpaced the S&P 500's 0.94% loss on the day. Elsewhere, the Dow lost 0.22%, while the tech-heavy Nasdaq lost 1.53%.
Prior to today's trading, shares of the containership owner had lost 5.37% over the past month. This has lagged the Transportation sector's loss of 2.92% and the S&P 500's gain of 1.85% in that time.
Global Ship Lease will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $2.16, down 9.24% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $163.42 million, down 5.29% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.68 per share and revenue of $648.28 million, which would represent changes of +6.5% and +0.41%, respectively, from the prior 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Global Ship Lease currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Global Ship Lease is holding a Forward P/E ratio of 2.09. Its industry sports an average Forward P/E of 6.91, so we one might conclude that Global Ship Lease is trading at a discount comparatively.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 101, which puts it in the top 41% 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.
To follow GSL in the coming trading sessions, be sure to utilize Zacks.com.
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Global Ship Lease, Inc. (GSL) : Free Stock Analysis Report
