Is Global Ship Lease (GSL) Stock Outpacing Its Transportation Peers This Year?
For those looking to find strong Transportation stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Global Ship Lease (GSL) one of those stocks right now? 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 individual stocks in the Transportation sector. Collectively, these companies sit at #4 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. GSL is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for GSL's full-year earnings has moved 5.48% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, GSL has moved about 94.20% on a year-to-date basis. Meanwhile, the Transportation sector has returned an average of 4.74% on a year-to-date basis. This means that Global Ship Lease is performing better than its sector in terms of year-to-date returns.
Breaking things down more, GSL is a member of the Transportation - Shipping industry, which includes 42 individual companies and currently sits at #111 in the Zacks Industry Rank. This group has gained an average of 59.11% so far this year, so GSL is performing better in this area.
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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