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Global Ship Lease (GSL) Gains As Market Dips: What You Should Know
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Global Ship Lease (GSL - Free Report) closed the most recent trading day at $17.31, moving +1.82% from the previous trading session. This change outpaced the S&P 500's 2.37% loss on the day. Elsewhere, the Dow lost 1.35%, while the tech-heavy Nasdaq lost 0.21%.
Heading into today, shares of the containership owner had lost 8.6% over the past month, outpacing the Transportation sector's loss of 10.84% and lagging the S&P 500's loss of 6.51% in that time.
Investors will be hoping for strength from Global Ship Lease as it approaches its next earnings release. On that day, Global Ship Lease is projected to report earnings of $1.79 per share, which would represent year-over-year growth of 2.87%. Meanwhile, our latest consensus estimate is calling for revenue of $147.43 million, up 6.39% from the prior-year quarter.
GSL's full-year Zacks Consensus Estimates are calling for earnings of $7.34 per share and revenue of $603.24 million. These results would represent year-over-year changes of +51.03% and +34.66%, respectively.
It is also important to note the recent changes to analyst estimates for Global Ship Lease. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Global Ship Lease is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Global Ship Lease currently has a Forward P/E ratio of 2.32. For comparison, its industry has an average Forward P/E of 3.21, which means Global Ship Lease is trading at a discount to the group.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 58, putting it in the top 24% 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.
To follow GSL in the coming trading sessions, be sure to utilize Zacks.com.
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Global Ship Lease (GSL) Gains As Market Dips: What You Should Know
Global Ship Lease (GSL - Free Report) closed the most recent trading day at $17.31, moving +1.82% from the previous trading session. This change outpaced the S&P 500's 2.37% loss on the day. Elsewhere, the Dow lost 1.35%, while the tech-heavy Nasdaq lost 0.21%.
Heading into today, shares of the containership owner had lost 8.6% over the past month, outpacing the Transportation sector's loss of 10.84% and lagging the S&P 500's loss of 6.51% in that time.
Investors will be hoping for strength from Global Ship Lease as it approaches its next earnings release. On that day, Global Ship Lease is projected to report earnings of $1.79 per share, which would represent year-over-year growth of 2.87%. Meanwhile, our latest consensus estimate is calling for revenue of $147.43 million, up 6.39% from the prior-year quarter.
GSL's full-year Zacks Consensus Estimates are calling for earnings of $7.34 per share and revenue of $603.24 million. These results would represent year-over-year changes of +51.03% and +34.66%, respectively.
It is also important to note the recent changes to analyst estimates for Global Ship Lease. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Global Ship Lease is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Global Ship Lease currently has a Forward P/E ratio of 2.32. For comparison, its industry has an average Forward P/E of 3.21, which means Global Ship Lease is trading at a discount to the group.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 58, putting it in the top 24% 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.
To follow GSL in the coming trading sessions, be sure to utilize Zacks.com.