Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Has Global Ship Lease (GSL) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Transportation sector should help us answer this question.
Global Ship Lease is one of 121 companies in the Transportation group. The Transportation group currently sits at #10 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Global Ship Lease is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for GSL's full-year earnings has moved 2.6% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, GSL has moved about 36.4% on a year-to-date basis. Meanwhile, the Transportation sector has returned an average of -2% on a year-to-date basis. As we can see, Global Ship Lease is performing better than its sector in the calendar year.
One other Transportation stock that has outperformed the sector so far this year is Cathay Pacific Airways Ltd. (CPCAY). The stock is up 10.2% year-to-date.
The consensus estimate for Cathay Pacific Airways Ltd.'s current year EPS has increased 7.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Global Ship Lease belongs to the Transportation - Shipping industry, which includes 37 individual stocks and currently sits at #98 in the Zacks Industry Rank. Stocks in this group have gained about 6.7% so far this year, so GSL is performing better this group in terms of year-to-date returns.
In contrast, Cathay Pacific Airways Ltd. falls under the Transportation - Airline industry. Currently, this industry has 25 stocks and is ranked #83. Since the beginning of the year, the industry has moved +12.3%.
Global Ship Lease and Cathay Pacific Airways Ltd. could continue their solid performance, so investors interested in Transportation stocks should continue to pay close attention to these stocks.
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Global Ship Lease, Inc. (GSL): Free Stock Analysis Report Cathay Pacific Airways Ltd. (CPCAY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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