In the latest trading session, Global Ship Lease (GSL) closed at $18.92, marking a -1.71% move from the previous day. This move lagged the S&P 500's daily gain of 0.12%. At the same time, the Dow added 0.13%, and the tech-heavy Nasdaq lost 4.09%.
Prior to today's trading, shares of the containership owner had gained 1.74% over the past month. This has outpaced the Transportation sector's gain of 1.53% and lagged the S&P 500's gain of 3.98% in that time.
Wall Street will be looking for positivity from Global Ship Lease as it approaches its next earnings report date. On that day, Global Ship Lease is projected to report earnings of $2.08 per share, which would represent year-over-year growth of 12.43%. Meanwhile, our latest consensus estimate is calling for revenue of $158.18 million, up 2.41% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.87 per share and revenue of $654.81 million. These totals would mark changes of +8.83% and +1.42%, respectively, from last year.
Investors should also note any 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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. Within the past 30 days, our consensus EPS projection has moved 5.91% higher. Global Ship Lease is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, Global Ship Lease is currently trading at a Forward P/E ratio of 2.17. This valuation marks a discount compared to its industry's average Forward P/E of 6.11.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report