Global Ship Lease (GSL) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Global Ship Lease (GSL) closed at $20.60, marking a +1.73% move from the previous day. This move outpaced the S&P 500's daily gain of 0.4%. At the same time, the Dow added 0.52%, and the tech-heavy Nasdaq gained 10.86%.
Prior to today's trading, shares of the containership owner had gained 7.66% over the past month. This has outpaced the Transportation sector's gain of 6.32% and the S&P 500's gain of 3.98% in that time.
Global Ship Lease will be looking to display strength as it nears its next earnings release, which is expected to be August 3, 2023. 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, the Zacks Consensus Estimate for revenue is projecting net sales of $158.18 million, up 2.41% from the year-ago period.
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. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Global Ship Lease is currently a Zacks Rank #3 (Hold).
Investors should also note Global Ship Lease's current valuation metrics, including its Forward P/E ratio of 2.28. This represents a discount compared to its industry's average Forward P/E of 7.04.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 187, which puts it in the bottom 26% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Global Ship Lease, Inc. (GSL) : Free Stock Analysis Report
