Global Ship Lease (GSL) Outpaces Stock Market Gains: What You Should Know
Global Ship Lease (GSL) closed at $19.20 in the latest trading session, marking a +1.96% move from the prior day. This move outpaced the S&P 500's daily gain of 1.22%. Meanwhile, the Dow gained 1.26%, and the Nasdaq, a tech-heavy index, added 4.63%.
Coming into today, shares of the containership owner had lost 1.21% in the past month. In that same time, the Transportation sector gained 4.25%, while the S&P 500 gained 6.22%.
Wall Street will be looking for positivity from Global Ship Lease as it approaches its next earnings report date. On that day, Global Ship Lease is projected to report earnings of $2.08 per share, which would represent year-over-year growth of 12.43%. Meanwhile, our latest consensus estimate is calling for revenue of $158.18 million, up 2.41% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.87 per share and revenue of $654.81 million, which would represent changes of +8.83% and +1.42%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Global Ship Lease. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
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 is holding a Zacks Rank of #1 (Strong Buy) right now.
Investors should also note Global Ship Lease's current valuation metrics, including its Forward P/E ratio of 2.12. Its industry sports an average Forward P/E of 6.26, 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 group has a Zacks Industry Rank of 169, putting it in the bottom 33% 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
