Global Ship Lease (NYSE:GSL) Downgraded to “Buy” Rating by StockNews.com

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

A number of other equities analysts have also commented on the stock. Clarkson Capital lowered shares of Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 target price on the stock. in a research report on Thursday, November 14th. Jefferies Financial Group restated a “buy” rating and set a $29.00 price objective on shares of Global Ship Lease in a report on Wednesday.

Global Ship Lease Stock Performance

Shares of Global Ship Lease stock opened at $23.43 on Friday. The company has a quick ratio of 1.58, a current ratio of 1.64 and a debt-to-equity ratio of 0.38. The stock’s fifty day moving average is $22.03 and its two-hundred day moving average is $23.18. Global Ship Lease has a 52 week low of $19.22 and a 52 week high of $30.32. The company has a market capitalization of $863.68 million, a PE ratio of 2.59 and a beta of 1.47.

Global Ship Lease (NYSE:GSL) last posted its quarterly earnings results on Wednesday, March 5th. The shipping company reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.25. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. The firm had revenue of $182.43 million for the quarter, compared to analysts’ expectations of $170.71 million. As a group, analysts expect that Global Ship Lease will post 9.74 earnings per share for the current year.

Global Ship Lease Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 7.68%. The ex-dividend date of this dividend was Monday, February 24th. Global Ship Lease’s dividend payout ratio (DPR) is 18.50%.

Institutional Investors Weigh In On Global Ship Lease

Several hedge funds have recently modified their holdings of the business. CIBC Private Wealth Group LLC raised its stake in Global Ship Lease by 6,856.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,600 shares of the shipping company’s stock worth $36,000 after buying an additional 1,577 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Global Ship Lease in the 4th quarter valued at $37,000. Steward Partners Investment Advisory LLC bought a new position in shares of Global Ship Lease in the 4th quarter worth $46,000. R Squared Ltd purchased a new stake in shares of Global Ship Lease during the 4th quarter worth $50,000. Finally, WealthCollab LLC boosted its position in Global Ship Lease by 64.1% during the fourth quarter. WealthCollab LLC now owns 2,615 shares of the shipping company’s stock valued at $57,000 after purchasing an additional 1,021 shares in the last quarter. Hedge funds and other institutional investors own 50.08% of the company’s stock.

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.