Why the Market Dipped But (GSL) Gained Today
Global Ship Lease (GSL) closed the latest trading day at $18.13, indicating a +1.34% change from the previous session's end. The stock exceeded the S&P 500, which registered a loss of 0.5% for the day. Elsewhere, the Dow gained 0.12%, while the tech-heavy Nasdaq lost 1.23%.
Prior to today's trading, shares of the containership owner had lost 0.89% over the past month. This has was narrower than the Transportation sector's loss of 3.22% and the S&P 500's loss of 2.4% in that time.
Market participants will be closely following the financial results of Global Ship Lease in its upcoming release. The company's upcoming EPS is projected at $2.16, signifying a 9.24% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $163.42 million, indicating a 5.29% decline compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $8.68 per share and a revenue of $648.25 million, representing changes of +6.5% and +0.4%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Global Ship Lease. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Global Ship Lease is holding a Zacks Rank of #4 (Sell) right now.
In terms of valuation, Global Ship Lease is presently being traded at a Forward P/E ratio of 2.06. This denotes a discount relative to the industry's average Forward P/E of 7.16.
The Transportation - Shipping industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 99, finds itself in the top 40% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Global Ship Lease, Inc. (GSL) : Free Stock Analysis Report
