Global Ship Lease (GSL) Surges 6.9%: Is This an Indication of Further Gains?

Global Ship Lease (GSL) shares soared 6.9% in the last trading session to close at $19.50. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 21.9% loss over the past four weeks.The stock gained following President Donald Trump's announcement that he would pause the "reciprocal" import taxes for 90 days.This containership owner is expected to post quarterly earnings of $2.27 per share in its upcoming report, which represents a year-over-year change of -10.3%. Revenues are expected to be $166.46 million, down 7.3% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For Global Ship Lease, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on GSL going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Global Ship Lease belongs to the Zacks Transportation - Shipping industry. Another stock from the same industry, Genco Shipping & Trading (GNK), closed the last trading session 10% higher at $12.50. Over the past month, GNK has returned -15.9%.For Genco Shipping, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.20. This represents a change of -140.8% from what the company reported a year ago. Genco Shipping currently has a Zacks Rank of #3 (Hold).7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>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 Global Ship Lease, Inc. (GSL): Free Stock Analysis Report Genco Shipping & Trading Limited (GNK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks