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Investors focused on the Transportation space have likely heard of Global Ship Lease (GSL), but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Transportation sector should help us answer this question.
Global Ship Lease is one of 136 companies in the Transportation group. The Transportation group currently sits at #3 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. GSL is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for GSL's full-year earnings has moved 28.63% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, GSL has moved about 65.18% on a year-to-date basis. In comparison, Transportation companies have returned an average of 7.35%. As we can see, Global Ship Lease is performing better than its sector in the calendar year.
Looking more specifically, GSL belongs to the Transportation - Shipping industry, which includes 42 individual stocks and currently sits at #93 in the Zacks Industry Rank. Stocks in this group have gained about 48.99% so far this year, so GSL is performing better this group in terms of year-to-date returns.
Investors in the Transportation sector will want to keep a close eye on GSL as it attempts to continue its solid performance.
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