Global Ship Lease (GSL) Gains As Market Dips: What You Should Know
Global Ship Lease (GSL) closed the most recent trading day at $18.22, moving +0.22% from the previous trading session. This change outpaced the S&P 500's 1.47% loss on the day. At the same time, the Dow lost 1.14%, and the tech-heavy Nasdaq lost 1.57%.
Prior to today's trading, shares of the containership owner had lost 2.78% over the past month. This has was narrower than the Transportation sector's loss of 3.07% and lagged the S&P 500's loss of 1.43% in that time.
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 $2.16 per share. This would mark a year-over-year decline of 9.24%. Our most recent consensus estimate is calling for quarterly revenue 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.
Any recent changes to analyst estimates for Global Ship Lease should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Global Ship Lease currently has a Zacks Rank of #3 (Hold).
Investors should also note Global Ship Lease's current valuation metrics, including its Forward P/E ratio of 2.09. For comparison, its industry has an average Forward P/E of 6.93, 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 148, which puts it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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
