Why the Market Dipped But Global Ship Lease (GSL) Gained Today
In the latest trading session, Global Ship Lease (GSL) closed at $20.47, marking a +0.05% move from the previous day. This move outpaced the S&P 500's daily loss of 0.56%. Meanwhile, the Dow lost 0.25%, and the Nasdaq, a tech-heavy index, lost 0.59%.
Heading into today, shares of the containership owner had gained 4.76% over the past month, outpacing the Transportation sector's loss of 3.94% and the S&P 500's gain of 1.2% in that time.
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.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Global Ship Lease. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Right now, Global Ship Lease possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Global Ship Lease currently has a Forward P/E ratio of 2.24. This expresses a discount compared to the average Forward P/E of 7.42 of its industry.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 199, which puts it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.
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Global Ship Lease, Inc. (GSL) : Free Stock Analysis Report
