Global Ship Lease (GSL) Stock Sinks As Market Gains: What You Should Know
Global Ship Lease (GSL) closed the most recent trading day at $20.76, moving -1.42% from the previous trading session. This change lagged the S&P 500's daily gain of 0.29%. Elsewhere, the Dow lost 0.25%, while the tech-heavy Nasdaq added 0.43%.
Heading into today, shares of the containership owner had gained 4.99% over the past month, outpacing the Transportation sector's loss of 2.99% and the S&P 500's gain of 2.08% in that time.
Investors will be eagerly watching for the performance of Global Ship Lease in its upcoming earnings disclosure. In that report, analysts expect Global Ship Lease to post earnings of $2.34 per share. This would mark year-over-year growth of 9.35%. 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 pay attention to any latest changes in analyst estimates for Global Ship Lease. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Global Ship Lease is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Global Ship Lease is presently being traded at a Forward P/E ratio of 2.3. This indicates a discount in contrast to its industry's Forward P/E of 7.67.
The Transportation - Shipping industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 187, positioning it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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
