Global Ship Lease (NYSE:GSL) Price Target Raised to $52.00

Global Ship Lease (NYSE:GSL) had its price objective raised by B. Riley Financial from $48.00 to $52.00 in a research report report published on Thursday, MarketBeat Ratings reports. The brokerage currently has a buy rating on the shipping company’s stock.

GSL has been the subject of a number of other reports. Fearnley Fonds upgraded Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Jefferies Financial Group started coverage on shares of Global Ship Lease in a report on Friday, April 24th. They issued a “buy” rating and a $45.00 price target for the company. Wall Street Zen upgraded Global Ship Lease from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Zacks Research raised Global Ship Lease from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Global Ship Lease in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $51.00.

Global Ship Lease Trading Down 1.2%

Shares of GSL stock opened at $42.27 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.21 and a current ratio of 2.13. The stock has a fifty day simple moving average of $40.08 and a two-hundred day simple moving average of $39.11. The firm has a market capitalization of $1.52 billion, a PE ratio of 4.06 and a beta of 0.90. Global Ship Lease has a 52-week low of $27.28 and a 52-week high of $44.69.

Global Ship Lease (NYSE:GSL) last announced its quarterly earnings data on Wednesday, August 5th. The shipping company reported $2.48 EPS for the quarter, beating the consensus estimate of $2.42 by $0.06. Global Ship Lease had a return on equity of 19.92% and a net margin of 49.10%.The business had revenue of $198.69 million for the quarter, compared to the consensus estimate of $186.85 million. During the same period in the previous year, the business earned $2.67 earnings per share. The business’s revenue was up 3.9% on a year-over-year basis. On average, analysts predict that Global Ship Lease will post 9.62 EPS for the current fiscal year.

Global Ship Lease Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Friday, August 21st will be issued a $0.625 dividend. The ex-dividend date is Friday, August 21st. This represents a $2.50 dividend on an annualized basis and a yield of 5.9%. Global Ship Lease’s payout ratio is currently 24.04%.

Institutional Trading of Global Ship Lease

Several large investors have recently bought and sold shares of the stock. Triumph Capital Management acquired a new stake in shares of Global Ship Lease during the third quarter worth about $25,000. Northwestern Mutual Wealth Management Co. acquired a new position in Global Ship Lease in the 4th quarter worth approximately $29,000. Hilton Head Capital Partners LLC purchased a new position in Global Ship Lease during the 4th quarter worth approximately $35,000. SHP Wealth Management acquired a new stake in shares of Global Ship Lease in the fourth quarter worth $35,000. Finally, LOM Asset Management Ltd acquired a new stake in shares of Global Ship Lease in the fourth quarter worth $49,000. 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.