Global Ship Lease (NYSE:GSL) Upgraded by StockNews.com to Strong-Buy

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

Separately, Jefferies Financial Group reissued a buy rating and issued a $25.00 target price on shares of Global Ship Lease in a report on Monday, March 4th.

Global Ship Lease Stock Down 1.1 %

NYSE GSL opened at $21.23 on Monday. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 0.52. The stock’s 50 day moving average is $20.35 and its two-hundred day moving average is $19.47. The company has a market capitalization of $747.08 million, a price-to-earnings ratio of 2.55 and a beta of 1.50. Global Ship Lease has a 1-year low of $16.80 and a 1-year high of $21.94.

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

Global Ship Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 22nd were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 7.07%. The ex-dividend date was Wednesday, February 21st. Global Ship Lease’s payout ratio is currently 18.01%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Clear Street Markets LLC bought a new position in Global Ship Lease in the 4th quarter worth approximately $35,000. Householder Group Estate & Retirement Specialist LLC bought a new position in Global Ship Lease in the 3rd quarter worth approximately $38,000. Whittier Trust Co. bought a new position in Global Ship Lease in the 4th quarter worth approximately $40,000. Signaturefd LLC raised its position in Global Ship Lease by 87.6% in the 4th quarter. Signaturefd LLC now owns 2,024 shares of the shipping company’s stock worth $40,000 after purchasing an additional 945 shares during the last quarter. Finally, Quarry LP bought a new stake in shares of Global Ship Lease during the 2nd quarter valued at $44,000. Institutional investors own 50.08% of the company’s stock.

About Global Ship Lease

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.