Global Ship Lease (GSL) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Global Ship Lease (GSL) closed at $24.29, marking a +1.21% move from the previous day. This move outpaced the S&P 500's daily gain of 0.15%.
Coming into today, shares of the containership owner had gained 20.6% in the past month. In that same time, the Transportation sector lost 1.57%, while the S&P 500 lost 0.58%.
Wall Street will be looking for positivity from GSL as it approaches its next earnings report date. In that report, analysts expect GSL to post earnings of $0.89 per share. This would mark year-over-year growth of 102.27%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $100.04 million, up 41.86% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.37 per share and revenue of $380.62 million, which would represent changes of +80.21% and +34.58%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for GSL. Recent revisions tend to reflect the latest 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. 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.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. GSL currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, GSL is currently trading at a Forward P/E ratio of 7.12. Its industry sports an average Forward P/E of 5.35, so we one might conclude that GSL is trading at a premium comparatively.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 116, which puts it in the top 46% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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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