Wall Street Zen Downgrades Global Ship Lease (NYSE:GSL) to Hold

Global Ship Lease (NYSE:GSL) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other research firms have also weighed in on GSL. Zacks Research lowered Global Ship Lease from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 23rd. B. Riley Financial upped their price objective on shares of Global Ship Lease from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Global Ship Lease in a report on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Global Ship Lease currently has a consensus rating of “Moderate Buy” and an average price target of $38.33.

Global Ship Lease Stock Performance

GSL opened at $37.12 on Friday. The firm has a market cap of $1.33 billion, a PE ratio of 3.26 and a beta of 0.88. The company has a quick ratio of 2.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.30. The business has a fifty day simple moving average of $37.60 and a 200-day simple moving average of $34.18. Global Ship Lease has a fifty-two week low of $17.73 and a fifty-two week high of $41.40.

Global Ship Lease (NYSE:GSL) last issued its earnings results on Friday, March 6th. The shipping company reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.01. The business had revenue of $190.95 million for the quarter, compared to analysts’ expectations of $188.39 million. Global Ship Lease had a return on equity of 22.35% and a net margin of 54.33%.Global Ship Lease’s revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts predict that Global Ship Lease will post 9.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Triumph Capital Management acquired a new position in Global Ship Lease during the third quarter valued at $25,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Global Ship Lease during the 4th quarter worth about $29,000. EverSource Wealth Advisors LLC boosted its position in Global Ship Lease by 77.2% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 989 shares of the shipping company’s stock worth $30,000 after acquiring an additional 431 shares during the period. Hilton Head Capital Partners LLC purchased a new position in Global Ship Lease during the 4th quarter valued at about $35,000. Finally, SHP Wealth Management acquired a new position in shares of Global Ship Lease in the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 50.08% of the company’s stock.

Global Ship Lease Company Profile

Global Ship Lease (NYSE: GSL) is a Bermuda-based containership charter owner focused on acquiring, owning and leasing modern, fuel-efficient vessels to major liner operators. Founded in 2011 and listed on the New York Stock Exchange the same year, the company’s fleet primarily comprises post-Panamax containerships designed to serve the high-volume Asia–Europe and transpacific shipping lanes. By specializing in long-term charter agreements, Global Ship Lease aims to maintain stable revenue streams and minimize spot-market volatility.

The company’s business model centers on negotiating multi-year time charters with leading global shipping lines.