Global Ship Lease (GSL) Stock Dips While Market Gains: Key Facts
The most recent trading session ended with Global Ship Lease (GSL) standing at $20.04, reflecting a -1.18% shift from the previouse trading day's closing. The stock fell short of the S&P 500, which registered a gain of 0.13% for the day. Meanwhile, the Dow experienced a rise of 0.13%, and the technology-dominated Nasdaq saw a decrease of 0.32%.
Coming into today, shares of the containership owner had lost 2.31% in the past month. In that same time, the Transportation sector gained 3.14%, while the S&P 500 gained 2.99%.
The investment community will be closely monitoring the performance of Global Ship Lease in its forthcoming earnings report. The company is forecasted to report an EPS of $2.34, showcasing a 9.35% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $171.54 million, up 3.95% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Global Ship Lease. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. 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 2.22. Its industry sports an average Forward P/E of 7.56, so one might conclude that Global Ship Lease is trading at a discount comparatively.
The Transportation - Shipping industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 94, positioning it in the top 38% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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
Global Ship Lease, Inc. (GSL) : Free Stock Analysis Report
