Global Ship Lease (NYSE:GSL) Announces Quarterly Earnings Results

Global Ship Lease (NYSE:GSL) released its quarterly earnings results on Monday. The shipping company reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.29, FiscalAI reports. Global Ship Lease had a net margin of 49.10% and a return on equity of 19.92%. The business had revenue of $201.36 million during the quarter, compared to analysts’ expectations of $189.00 million.

Global Ship Lease Trading Up 0.1%

NYSE:GSL opened at $39.05 on Monday. The company has a quick ratio of 2.06, a current ratio of 2.13 and a debt-to-equity ratio of 0.27. The company has a fifty day moving average of $43.71 and a 200 day moving average of $40.60. The firm has a market capitalization of $1.40 billion, a P/E ratio of 3.76 and a beta of 1.03. Global Ship Lease has a 52 week low of $31.26 and a 52 week high of $46.57.

Insiders Place Their Bets

In other news, Director Ulrike Helfer sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $44.82, for a total transaction of $179,280.00. Following the transaction, the director directly owned 8,503 shares of the company’s stock, valued at approximately $381,104.46. The trade was a 31.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Georgios Giannopoulos sold 7,692 shares of the company’s stock in a transaction that occurred on Tuesday, October 13th. The shares were sold at an average price of $45.08, for a total value of $346,755.36. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 91,692 shares of company stock worth $4,104,852. 7.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on GSL shares. Wall Street Zen cut shares of Global Ship Lease from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. B. Riley Financial upped their target price on shares of Global Ship Lease from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Zacks Research raised Global Ship Lease from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Jefferies Financial Group raised their price target on Global Ship Lease from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Global Ship Lease in a research note on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $51.00.

Global Ship Lease Company Profile

Global Ship Lease, Inc (NYSE:GSL) is a containership owner and chartering company. It owns and manages a fleet of mid-sized and smaller containerships, which are vessels designed to transport containerized cargo such as manufactured goods, consumer products and industrial materials.

The company primarily generates revenue by chartering its vessels to container shipping companies under fixed-rate time charter agreements. Its customers operate liner services that connect major ports and trade routes worldwide, allowing Global Ship Lease to participate in global seaborne commerce while its charterers manage cargo transportation and logistics.

Global Ship Lease was founded in 2007 and completed its initial public offering in 2008.