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Global Ship Lease (GSL) Advances But Underperforms Market: Key Facts

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The most recent trading session ended with Global Ship Lease (GSL - Free Report) standing at $17.63, reflecting a +0.28% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily gain of 1.05%. At the same time, the Dow added 0.67%, and the tech-heavy Nasdaq gained 1.64%.

The the stock of containership owner has fallen by 0.23% in the past month, leading the Transportation sector's loss of 6.4% and the S&P 500's loss of 2.21%.

The investment community will be paying close attention to the earnings performance of Global Ship Lease in its upcoming release. The company is slated to reveal its earnings on November 9, 2023. The company's earnings per share (EPS) are projected to be $2.16, reflecting a 9.24% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $163.42 million, down 5.29% from the prior-year quarter.

GSL's full-year Zacks Consensus Estimates are calling for earnings of $8.60 per share and revenue of $648.25 million. These results would represent year-over-year changes of +5.52% and +0.4%, 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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.92% downward. Global Ship Lease currently has a Zacks Rank of #4 (Sell).

In the context of valuation, Global Ship Lease is at present trading with a Forward P/E ratio of 2.04. For comparison, its industry has an average Forward P/E of 7.4, 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 91, putting it in the top 37% 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 to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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