Global Ship Lease (NYSE:GSL) Stock Rating Upgraded by StockNews.com

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

Separately, Jefferies Financial Group restated 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 Price Performance

Shares of NYSE:GSL opened at $21.20 on Monday. Global Ship Lease has a one year low of $16.80 and a one year high of $21.94. The stock has a fifty day moving average of $20.36 and a 200-day moving average of $19.48. The company has a market capitalization of $745.85 million, a PE ratio of 2.54 and a beta of 1.50. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.00 and a current ratio of 1.05.

Global Ship Lease (NYSE:GSL) last announced its quarterly earnings data on Monday, March 4th. The shipping company reported $2.49 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.15. The company had revenue of $178.89 million during 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 quarter in the prior year, the firm earned $2.14 EPS. As a group, equities analysts anticipate that Global Ship Lease will post 9.4 EPS for the current fiscal year.

Global Ship Lease Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 22nd were paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 7.08%. The ex-dividend date was Wednesday, February 21st. Global Ship Lease’s dividend payout ratio (DPR) is presently 18.01%.

Hedge Funds Weigh In On Global Ship Lease

Hedge funds have recently bought and sold shares of the business. Whittier Trust Co. acquired a new stake in shares of Global Ship Lease in the fourth quarter valued at about $40,000. Signaturefd LLC lifted its stake in Global Ship Lease by 87.6% during the fourth 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 period. Householder Group Estate & Retirement Specialist LLC bought a new position in Global Ship Lease during the third quarter worth about $38,000. Clear Street Markets LLC bought a new position in shares of Global Ship Lease in the fourth quarter valued at approximately $35,000. Finally, Quarry LP acquired a new position in shares of Global Ship Lease in the 2nd quarter worth approximately $44,000. 50.08% of the stock is owned by institutional investors and hedge funds.

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.