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Global Ship Lease (GSL) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Global Ship Lease (GSL - Free Report) closed at $18.26, marking a -1.35% move from the previous day. This move lagged the S&P 500's daily loss of 1.16%. Elsewhere, the Dow lost 1.08%, while the tech-heavy Nasdaq lost 7.95%.
Heading into today, shares of the containership owner had gained 0.38% over the past month, outpacing the Transportation sector's loss of 1.16% and lagging the S&P 500's gain of 1.53% in that time.
Investors will be hoping for strength from Global Ship Lease as it approaches its next earnings release, which is expected to be May 10, 2023. In that report, analysts expect Global Ship Lease to post earnings of $1.94 per share. This would mark year-over-year growth of 1.57%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $151.75 million, down 1.22% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.38 per share and revenue of $627.13 million, which would represent changes of +2.82% and -2.87%, respectively, from the prior year.
Any recent changes to analyst estimates for Global Ship Lease should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.59% lower. Global Ship Lease is holding a Zacks Rank of #4 (Sell) right now.
Digging into valuation, Global Ship Lease currently has a Forward P/E ratio of 2.21. Its industry sports an average Forward P/E of 6.09, so we one might conclude that Global Ship Lease is trading at a discount comparatively.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 167, which puts it in the bottom 34% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Global Ship Lease (GSL) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Global Ship Lease (GSL - Free Report) closed at $18.26, marking a -1.35% move from the previous day. This move lagged the S&P 500's daily loss of 1.16%. Elsewhere, the Dow lost 1.08%, while the tech-heavy Nasdaq lost 7.95%.
Heading into today, shares of the containership owner had gained 0.38% over the past month, outpacing the Transportation sector's loss of 1.16% and lagging the S&P 500's gain of 1.53% in that time.
Investors will be hoping for strength from Global Ship Lease as it approaches its next earnings release, which is expected to be May 10, 2023. In that report, analysts expect Global Ship Lease to post earnings of $1.94 per share. This would mark year-over-year growth of 1.57%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $151.75 million, down 1.22% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.38 per share and revenue of $627.13 million, which would represent changes of +2.82% and -2.87%, respectively, from the prior year.
Any recent changes to analyst estimates for Global Ship Lease should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.59% lower. Global Ship Lease is holding a Zacks Rank of #4 (Sell) right now.
Digging into valuation, Global Ship Lease currently has a Forward P/E ratio of 2.21. Its industry sports an average Forward P/E of 6.09, so we one might conclude that Global Ship Lease is trading at a discount comparatively.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 167, which puts it in the bottom 34% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.