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? Let's take a closer look at the stock's year-to-date performance to find out.
Global Ship Lease is a member of the Transportation sector. This group includes 122 individual stocks and currently holds a Zacks Sector Rank of #15. 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 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. Global Ship Lease is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for GSL's full-year earnings has moved 6.8% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, GSL has gained about 59% so far this year. Meanwhile, the Transportation sector has returned an average of -3.7% on a year-to-date basis. As we can see, Global Ship Lease is performing better than its sector in the calendar year.
Another stock in the Transportation sector, Seanergy Maritime Holdings Corp (SHIP), has outperformed the sector so far this year. The stock's year-to-date return is 33%.
The consensus estimate for Seanergy Maritime Holdings Corp's current year EPS has increased 130.9% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Global Ship Lease belongs to the Transportation - Shipping industry, a group that includes 39 individual companies and currently sits at #42 in the Zacks Industry Rank. On average, stocks in this group have gained 13.7% this year, meaning that GSL is performing better in terms of year-to-date returns. Seanergy Maritime Holdings Corp is also part of the same industry.
Investors interested in the Transportation sector may want to keep a close eye on Global Ship Lease and Seanergy Maritime Holdings Corp as they attempt to continue their solid performance.
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Global Ship Lease, Inc. (GSL): Free Stock Analysis Report Seanergy Maritime Holdings Corp (SHIP): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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