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Global Ship Lease (GSL) Stock Sinks As Market Gains: What You Should Know
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Global Ship Lease (GSL - Free Report) closed at $19.64 in the latest trading session, marking a -0.15% move from the prior day. This move lagged the S&P 500's daily gain of 0.09%. At the same time, the Dow added 0.2%, and the tech-heavy Nasdaq lost 4.87%.
Coming into today, shares of the containership owner had gained 8.79% in the past month. In that same time, the Transportation sector gained 3.25%, while the S&P 500 gained 3.31%.
Global Ship Lease will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.96, up 2.62% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $151.75 million, down 1.22% from the year-ago period.
GSL's full-year Zacks Consensus Estimates are calling for earnings of $8.51 per share and revenue of $627.12 million. These results would represent year-over-year changes of +4.42% and -2.87%, respectively.
Any recent changes to analyst estimates for Global Ship Lease should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Global Ship Lease is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, Global Ship Lease is holding a Forward P/E ratio of 2.31. This represents a discount compared to its industry's average Forward P/E of 6.35.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 90, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Global Ship Lease (GSL) Stock Sinks As Market Gains: What You Should Know
Global Ship Lease (GSL - Free Report) closed at $19.64 in the latest trading session, marking a -0.15% move from the prior day. This move lagged the S&P 500's daily gain of 0.09%. At the same time, the Dow added 0.2%, and the tech-heavy Nasdaq lost 4.87%.
Coming into today, shares of the containership owner had gained 8.79% in the past month. In that same time, the Transportation sector gained 3.25%, while the S&P 500 gained 3.31%.
Global Ship Lease will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.96, up 2.62% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $151.75 million, down 1.22% from the year-ago period.
GSL's full-year Zacks Consensus Estimates are calling for earnings of $8.51 per share and revenue of $627.12 million. These results would represent year-over-year changes of +4.42% and -2.87%, respectively.
Any recent changes to analyst estimates for Global Ship Lease should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Global Ship Lease is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, Global Ship Lease is holding a Forward P/E ratio of 2.31. This represents a discount compared to its industry's average Forward P/E of 6.35.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 90, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.