Global Ship Lease (NYSE:GSL) Rating Increased to Strong-Buy at StockNews.com

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

Separately, Jefferies Financial Group upped their target price on shares of Global Ship Lease from $26.00 to $29.00 and gave the stock a buy rating in a report on Thursday, May 16th.

Global Ship Lease Stock Up 3.2 %

Shares of GSL opened at $28.64 on Tuesday. Global Ship Lease has a 52 week low of $16.80 and a 52 week high of $28.70. The firm has a market capitalization of $1.01 billion, a P/E ratio of 3.24 and a beta of 1.46. The company has a 50-day simple moving average of $22.56 and a 200-day simple moving average of $20.64. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.00 and a current ratio of 1.24.

Global Ship Lease (NYSE:GSL) last released its quarterly earnings data on Monday, March 4th. The shipping company reported $2.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.15. Global Ship Lease had a return on equity of 29.44% and a net margin of 46.30%. The business had revenue of $178.89 million for the quarter, compared to analysts’ expectations of $171.54 million. During the same period in the previous year, the business posted $2.14 earnings per share. On average, equities research analysts expect that Global Ship Lease will post 9.61 earnings per share for the current year.

Global Ship Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 24th will be given a $0.375 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $1.50 annualized dividend and a yield of 5.24%. Global Ship Lease’s payout ratio is 16.95%.

Hedge Funds Weigh In On Global Ship Lease

A number of institutional investors have recently modified their holdings of the stock. Whittier Trust Co. bought a new position in shares of Global Ship Lease in the 4th quarter valued at about $40,000. Signaturefd LLC grew its holdings in Global Ship Lease by 87.6% during the 4th quarter. Signaturefd LLC now owns 2,024 shares of the shipping company’s stock worth $40,000 after acquiring an additional 945 shares during the period. Quadrant Capital Group LLC raised its position in shares of Global Ship Lease by 150.2% during the 4th quarter. Quadrant Capital Group LLC now owns 7,186 shares of the shipping company’s stock valued at $142,000 after acquiring an additional 4,314 shares during the last quarter. Clear Street Markets LLC acquired a new position in shares of Global Ship Lease in the 4th quarter valued at $172,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of Global Ship Lease in the 4th quarter worth $201,000. 50.08% of the stock is owned by 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.