Global Ship Lease (GSL) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Global Ship Lease (GSL) closed at $18.35, marking a -1.45% move from the previous day. This change lagged the S&P 500's 0.22% gain on the day. At the same time, the Dow lost 0.13%, and the tech-heavy Nasdaq gained 0.2%.
Heading into today, shares of the containership owner had lost 16.32% over the past month, lagging the Transportation sector's loss of 8.06% and the S&P 500's loss of 8.32% in that time.
Investors will be hoping for strength from Global Ship Lease as it approaches its next earnings release. On that day, Global Ship Lease is projected to report earnings of $1.79 per share, which would represent year-over-year growth of 171.21%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $147.26 million, up 77.69% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.45 per share and revenue of $597.13 million. These totals would mark changes of +53.29% and +33.3%, respectively, from last year.
Any recent changes to analyst estimates for Global Ship Lease should also be noted by investors. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Global Ship Lease currently has a Zacks Rank of #4 (Sell).
Looking at its valuation, Global Ship Lease is holding a Forward P/E ratio of 2.5. For comparison, its industry has an average Forward P/E of 3.56, which means Global Ship Lease is trading at a discount to the group.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 30, putting it in the top 12% 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.
To follow GSL in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
To read this article on Zacks.com click here.
