Global Ship Lease (NYSE:GSL) Sets New 1-Year High at $23.40

Global Ship Lease, Inc. (NYSE:GSL) shares reached a new 52-week high on Monday . The stock traded as high as $23.40 and last traded at $23.40, with a volume of 52978 shares traded. The stock had previously closed at $23.14.

Wall Street Analysts Forecast Growth

GSL has been the topic of several research analyst reports. Jefferies Financial Group reiterated a “buy” rating and issued a $25.00 price objective on shares of Global Ship Lease in a report on Monday, March 4th. StockNews.com upgraded Global Ship Lease from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 1st.

Global Ship Lease Trading Down 0.1 %

The stock has a market capitalization of $820.98 million, a PE ratio of 2.80 and a beta of 1.46. The company’s 50 day moving average price is $20.98 and its two-hundred day moving average price is $19.94. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.00.

Global Ship Lease (NYSE:GSL) last released its earnings results on Monday, March 4th. The shipping company reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.15. The business had revenue of $178.89 million for the quarter, compared to analyst estimates of $171.54 million. Global Ship Lease had a net margin of 45.12% and a return on equity of 29.87%. During the same period last year, the company posted $2.14 EPS. As a group, analysts expect that Global Ship Lease, Inc. will post 9.4 earnings per share for the current year.

Global Ship Lease Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 22nd were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 6.43%. The ex-dividend date of this dividend was Wednesday, February 21st. Global Ship Lease’s payout ratio is currently 18.01%.

Institutional Trading of Global Ship Lease

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Donald Smith & CO. Inc. increased its position in Global Ship Lease by 235.9% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,564,165 shares of the shipping company’s stock worth $31,002,000 after purchasing an additional 1,098,558 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in shares of Global Ship Lease during the 4th quarter worth approximately $21,588,000. Foundry Partners LLC raised its position in shares of Global Ship Lease by 19.8% during the 3rd quarter. Foundry Partners LLC now owns 306,024 shares of the shipping company’s stock valued at $5,612,000 after buying an additional 50,680 shares during the period. Commonwealth Equity Services LLC lifted its holdings in Global Ship Lease by 2.7% in the third quarter. Commonwealth Equity Services LLC now owns 129,586 shares of the shipping company’s stock valued at $2,377,000 after acquiring an additional 3,356 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its position in Global Ship Lease by 47.4% in the third quarter. Qube Research & Technologies Ltd now owns 106,676 shares of the shipping company’s stock worth $1,956,000 after acquiring an additional 34,313 shares during the period. 50.08% of the stock is owned by institutional investors and hedge funds.

Global Ship Lease Company Profile

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.