Zacks Research Upgrades Global Ship Lease (NYSE:GSL) to Hold

Global Ship Lease (NYSE:GSL) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other brokerages have also recently weighed in on GSL. Wall Street Zen raised shares of Global Ship Lease from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Weiss Ratings restated a “buy (b)” rating on shares of Global Ship Lease in a research report on Friday, July 17th. Jefferies Financial Group started coverage on shares of Global Ship Lease in a research note on Friday, April 24th. They set a “buy” rating and a $45.00 price objective for the company. Finally, Fearnley Fonds upgraded shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $46.50.

Global Ship Lease Stock Performance

NYSE:GSL opened at $43.52 on Monday. The firm has a market cap of $1.56 billion, a PE ratio of 4.13 and a beta of 0.90. Global Ship Lease has a fifty-two week low of $27.28 and a fifty-two week high of $43.89. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.21 and a current ratio of 2.26. The business has a 50 day moving average price of $39.24 and a 200-day moving average price of $38.71.

Global Ship Lease (NYSE:GSL) last issued its earnings results on Friday, May 22nd. The shipping company reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.16. Global Ship Lease had a net margin of 50.01% and a return on equity of 21.11%. The firm had revenue of $198.08 million for the quarter, compared to analysts’ expectations of $182.87 million. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities research analysts predict that Global Ship Lease will post 9.5 earnings per share for the current year.

Institutional Trading of Global Ship Lease

Large investors have recently added to or reduced their stakes in the stock. Triumph Capital Management purchased a new position in Global Ship Lease during the 3rd quarter valued at $25,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Global Ship Lease in the 4th quarter worth about $29,000. Hilton Head Capital Partners LLC purchased a new stake in shares of Global Ship Lease in the 4th quarter worth about $35,000. SHP Wealth Management bought a new stake in shares of Global Ship Lease during the 4th quarter valued at about $35,000. Finally, LOM Asset Management Ltd bought a new stake in shares of Global Ship Lease during the 4th quarter valued at about $49,000. Institutional investors own 50.08% of the company’s stock.

About Global Ship Lease

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.