Global Ship Lease (NYSE:GSL) Cut to Buy at StockNews.com

StockNews.com lowered shares of Global Ship Lease (NYSE:GSL) from a strong-buy rating to a buy rating in a research report released on Tuesday.

Separately, Jefferies Financial Group reiterated a buy rating and set a $25.00 target price on shares of Global Ship Lease in a research note on Monday, March 4th.

Global Ship Lease Price Performance

Shares of NYSE GSL opened at $22.47 on Tuesday. Global Ship Lease has a twelve month low of $16.80 and a twelve month high of $22.65. The firm has a market cap of $790.72 million, a P/E ratio of 2.70 and a beta of 1.50. The company has a 50 day moving average of $20.52 and a 200 day moving average of $19.63. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 0.52.

Global Ship Lease (NYSE:GSL) last announced its quarterly earnings data on Monday, March 4th. The shipping company reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.15. The company had revenue of $178.89 million during the quarter, compared to analyst estimates of $171.54 million. Global Ship Lease had a net margin of 45.12% and a return on equity of 29.87%. During the same period in the previous year, the business earned $2.14 EPS. As a group, research analysts expect that Global Ship Lease will post 9.4 EPS for the current fiscal year.

Global Ship Lease Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 22nd were paid a dividend of $0.375 per share. The ex-dividend date was Wednesday, February 21st. This represents a $1.50 dividend on an annualized basis and a yield of 6.68%. Global Ship Lease’s dividend payout ratio is presently 18.01%.

Institutional Investors Weigh In On Global Ship Lease

A number of hedge funds have recently added to or reduced their stakes in GSL. Exchange Traded Concepts LLC increased its stake in shares of Global Ship Lease by 7.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 21,303 shares of the shipping company’s stock worth $391,000 after purchasing an additional 1,477 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Global Ship Lease by 2.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 129,586 shares of the shipping company’s stock worth $2,377,000 after purchasing an additional 3,356 shares in the last quarter. Crescent Grove Advisors LLC increased its stake in shares of Global Ship Lease by 173.8% in the 3rd quarter. Crescent Grove Advisors LLC now owns 63,360 shares of the shipping company’s stock worth $1,162,000 after purchasing an additional 40,215 shares in the last quarter. Csenge Advisory Group increased its stake in shares of Global Ship Lease by 9.7% in the 3rd quarter. Csenge Advisory Group now owns 28,633 shares of the shipping company’s stock worth $525,000 after purchasing an additional 2,540 shares in the last quarter. Finally, Olympiad Research LP purchased a new stake in shares of Global Ship Lease in the 3rd quarter worth $224,000. 50.08% of the stock is currently owned by hedge funds and other institutional investors.

Global Ship Lease Company Profile

Global Ship Lease, Inc, together with its subsidiaries, engages in owning and chartering of containerships under fixed-rate charters to container shipping companies worldwide. As of March 11, 2024, it owned 68 mid-sized and smaller containerships, ranging from 2,207 to 11,040 twenty-foot equivalent unit (TEU), with an aggregate capacity of 375,406 TEU.