StockNews.com Lowers Global Ship Lease (NYSE:GSL) to Buy

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

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

Global Ship Lease Price Performance

Global Ship Lease stock opened at $25.14 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 1.18. The business has a 50 day simple moving average of $27.96 and a 200-day simple moving average of $23.50. Global Ship Lease has a 12 month low of $16.80 and a 12 month high of $30.32. The stock has a market capitalization of $884.68 million, a PE ratio of 2.84 and a beta of 1.64.

Global Ship Lease (NYSE:GSL) last announced its quarterly earnings data on Thursday, May 16th. The shipping company reported $2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.19. Global Ship Lease had a net margin of 46.30% and a return on equity of 29.44%. The company had revenue of $179.56 million for the quarter, compared to analysts’ expectations of $170.70 million. Equities analysts predict that Global Ship Lease will post 9.52 earnings per share for the current year.

Global Ship Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 24th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 5.97%. The ex-dividend date was Thursday, May 23rd. Global Ship Lease’s dividend payout ratio (DPR) is currently 16.95%.

Hedge Funds Weigh In On Global Ship Lease

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Whittier Trust Co. purchased a new stake in Global Ship Lease during the fourth quarter worth about $40,000. Signaturefd LLC grew its holdings in shares of Global Ship Lease by 87.6% in 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. Mather Group LLC. purchased a new position in Global Ship Lease in the 2nd quarter valued at approximately $88,000. Blue Trust Inc. raised its holdings in Global Ship Lease by 2,642.1% during the second quarter. Blue Trust Inc. now owns 3,126 shares of the shipping company’s stock worth $90,000 after purchasing an additional 3,012 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its position in Global Ship Lease by 150.2% during the fourth quarter. Quadrant Capital Group LLC now owns 7,186 shares of the shipping company’s stock worth $142,000 after purchasing an additional 4,314 shares in the last quarter. 50.08% of the stock is owned by institutional investors and hedge funds.

About Global Ship Lease

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.