Global Ship Lease (GSL) Stock Sinks As Market Gains: What You Should Know
Global Ship Lease (GSL) closed at $19.90 in the latest trading session, marking a -0.8% move from the prior day. This change lagged the S&P 500's 0.39% gain on the day.
Heading into today, shares of the containership owner had gained 6.25% over the past month, outpacing the Transportation sector's gain of 5.25% and the S&P 500's gain of 3.16% in that time.
Wall Street will be looking for positivity from Global Ship Lease as it approaches its next earnings report date. In that report, analysts expect Global Ship Lease to post earnings of $2.08 per share. This would mark year-over-year growth of 12.43%. Our most recent consensus estimate is calling for quarterly revenue 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.
It is also important to note the recent changes to analyst estimates for Global Ship Lease. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Global Ship Lease currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Global Ship Lease is currently trading at a Forward P/E ratio of 2.26. For comparison, its industry has an average Forward P/E of 6.31, 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 196, putting it in the bottom 23% 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.
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Global Ship Lease, Inc. (GSL) : Free Stock Analysis Report
