Here's Why Global Ship Lease (GSL) Fell More Than Broader Market
Global Ship Lease (GSL) closed at $19.85 in the latest trading session, marking a -1.93% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.29%. Elsewhere, the Dow saw a downswing of 0.35%, while the tech-heavy Nasdaq depreciated by 0.3%.
Shares of the containership owner have depreciated by 0.78% over the course of the past month, underperforming the Transportation sector's gain of 3.75% and the S&P 500's gain of 4.42%.
The investment community will be closely monitoring the performance of Global Ship Lease in its forthcoming earnings report. The company is predicted to post an EPS of $2.33, indicating a 9.91% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $170.7 million, up 7.16% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $9.40 per share and a revenue of $676.08 million, indicating changes of +4.1% and +0.19%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Global Ship Lease. Recent revisions tend to reflect the latest 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 demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.68% increase. As of now, Global Ship Lease holds a Zacks Rank of #3 (Hold).
Digging into valuation, Global Ship Lease currently has a Forward P/E ratio of 2.15. This signifies a discount in comparison to the average Forward P/E of 7.99 for its industry.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 76, putting it in the top 31% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Global Ship Lease, Inc. (GSL) : Free Stock Analysis Report
