Ship part

Global Ship Lease (GSL) Plunges More Than Broader Markets: What You Need to Know

gGlobal Ship Lease (GSL) closed the last day of trading at $16.52, down 1.43% from the previous trading session. The change lagged the S&P 500’s daily 0.88% loss. Meanwhile, the Dow Jones lost 0.82% and the Nasdaq, a technology-heavy index, added 0.08%. .

Prior to today’s trading, the container ship owner’s shares had lost 24.57% in the past month. This was lower than the transportation sector’s loss of 6.72% and the S&P 500’s loss of 8.06% during this period.

Investors are hoping for strength from Global Ship Lease as it approaches its next earnings release. In this report, analysts expect Global Ship Lease to post earnings of $1.62 per share. This would mark a year-over-year growth of 145.45%. Our most recent consensus estimate calls for quarterly revenue of $143.69 million, up 73.39% from the prior year period.

For the full year, our Zacks consensus estimates call for earnings of $7.07 per share and revenue of $592.77 million, which would represent swings of +45.47% and +32, 33%, respectively, compared to the previous year.

Any recent changes in analyst estimates for Global Ship Lease should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term trading trends. Therefore, we can interpret positive estimate revisions as a good sign for the company’s business outlook.

Research indicates that these revisions to estimates are directly correlated to near-term stock price dynamics. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes into account these estimation changes and provides a clear and actionable scoring model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive track record of outperformance verified by external audits, with #1 stocks generating an average annual return of +25% since 1988 Zacks Consensus’ EPS estimate fell 5.1% over the past month. Global Ship Lease currently holds a Zacks ranking of #4 (selling).

In terms of valuation, Global Ship Lease is currently trading at a Forward P/E ratio of 2.37. This valuation marks a discount compared to the average Forward P/E of its sector of 3.4.

The Transport – Shipping industry is part of the Transport sector. This group has a Zacks industry ranking of 42, which places it in the top 17% of over 250 industries.

The Zacks Industry Rankings are ranked from best to worst in terms of the average Zacks Ranking of individual companies in each of these industries. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and more, at Zacks.com.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.