Global Ship Lease (NYSE:GSL) Rating Lowered to “Neutral” at Clarkson Capital

Clarkson Capital lowered shares of Global Ship Lease (NYSE:GSL) from a buy rating to a neutral rating in a report issued on Thursday, Marketbeat reports. They currently have $27.00 price objective on the shipping company’s stock.

GSL has been the subject of a number of other reports. StockNews.com lowered Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 25th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $29.00 target price on shares of Global Ship Lease in a research note on Monday, November 11th.

Global Ship Lease Trading Down 0.7 %

GSL opened at $23.65 on Thursday. Global Ship Lease has a 1-year low of $17.47 and a 1-year high of $30.32. The stock has a market capitalization of $871.74 million, a PE ratio of 2.62 and a beta of 1.62. The company has a current ratio of 1.64, a quick ratio of 1.36 and a debt-to-equity ratio of 0.38. The firm has a 50-day moving average price of $24.55 and a two-hundred day moving average price of $25.95.

Global Ship Lease (NYSE:GSL) last released its quarterly earnings results on Monday, November 11th. The shipping company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.43 by $0.02. The business had revenue of $174.06 million for the quarter, compared to analysts’ expectations of $175.83 million. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. During the same period in the prior year, the firm earned $2.33 earnings per share. As a group, equities analysts anticipate that Global Ship Lease will post 9.85 earnings per share for the current fiscal year.

Global Ship Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Friday, November 22nd will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.61%. Global Ship Lease’s dividend payout ratio (DPR) is presently 16.61%.

Institutional Trading of Global Ship Lease

A number of hedge funds have recently modified their holdings of GSL. SG Americas Securities LLC acquired a new stake in Global Ship Lease in the second quarter worth $2,130,000. Janney Montgomery Scott LLC raised its stake in Global Ship Lease by 126.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 90,840 shares of the shipping company’s stock worth $2,421,000 after buying an additional 50,660 shares during the period. Marshall Wace LLP raised its stake in Global Ship Lease by 275.5% during the 2nd quarter. Marshall Wace LLP now owns 1,068,524 shares of the shipping company’s stock worth $30,763,000 after buying an additional 783,963 shares during the period. Sei Investments Co. lifted its holdings in Global Ship Lease by 780.1% during the second quarter. Sei Investments Co. now owns 103,658 shares of the shipping company’s stock worth $2,984,000 after acquiring an additional 91,880 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Global Ship Lease by 147.1% in the third quarter. Harbor Capital Advisors Inc. now owns 506,085 shares of the shipping company’s stock worth $13,487,000 after acquiring an additional 301,280 shares in the last quarter. 50.08% of the stock is currently 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.