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Globalstar (GSAT) Outpaces Stock Market Gains: What You Should Know

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In the latest trading session, Globalstar (GSAT) closed at $1.67, marking a +1.21% move from the previous day. This move outpaced the S&P 500's daily gain of 0.18%.

Coming into today, shares of the satellite communications company had gained 7.14% in the past month. In that same time, the Computer and Technology sector gained 5.57%, while the S&P 500 gained 5.68%.

Wall Street will be looking for positivity from GSAT as it approaches its next earnings report date. In that report, analysts expect GSAT to post earnings of -$0.01 per share. This would mark no growth from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $28.39 million, down 13.34% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.06 per share and revenue of $117.81 million. These totals would mark changes of +14.29% and -8.31%, respectively, from last year.

Investors should also note any recent changes to analyst estimates for GSAT. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

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.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. GSAT is currently a Zacks Rank #3 (Hold).

The Satellite and Communication industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 169, which puts it in the bottom 34% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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