Has Global Ship Lease (GSL) Outpaced Other Transportation Stocks This Year?
Is (GSL) Outperforming Other Transportation Stocks This Year?
For those looking to find strong Transportation stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Global Ship Lease (GSL) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Transportation peers, we might be able to answer that question.
Global Ship Lease is one of 136 individual stocks in the Transportation sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. GSL is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for GSL's full-year earnings has moved 28.63% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that GSL has returned about 95.79% since the start of the calendar year. Meanwhile, the Transportation sector has returned an average of 10.04% on a year-to-date basis. This shows that Global Ship Lease is outperforming its peers so far this year.
Breaking things down more, GSL is a member of the Transportation - Shipping industry, which includes 42 individual companies and currently sits at #75 in the Zacks Industry Rank. On average, this group has gained an average of 67.07% so far this year, meaning that GSL is performing better in terms of year-to-date returns.
Going forward, investors interested in Transportation stocks should continue to pay close attention to GSL as it looks to continue its solid performance.
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Global Ship Lease, Inc. (GSL): Free Stock Analysis Report
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