Global Ship Lease (NYSE:GSL) Stock Rating Lowered by StockNews.com

Global Ship Lease (NYSE:GSL) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday.

Other equities research analysts have also recently issued reports about the company. Clarkson Capital upgraded Global Ship Lease from a “neutral” rating to a “buy” rating in a research report on Thursday, August 8th. Jefferies Financial Group reissued a “buy” rating and issued a $29.00 price objective on shares of Global Ship Lease in a report on Monday, August 5th.

Global Ship Lease Trading Down 0.4 %

Shares of NYSE:GSL opened at $23.93 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40. Global Ship Lease has a 12-month low of $16.80 and a 12-month high of $30.32. The business has a 50 day moving average of $24.91 and a two-hundred day moving average of $25.71. The company has a market capitalization of $882.06 million, a PE ratio of 2.62 and a beta of 1.60.

Global Ship Lease (NYSE:GSL) last posted its earnings results on Monday, August 5th. The shipping company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.19. The firm had revenue of $175.00 million during the quarter, compared to analysts’ expectations of $172.07 million. Global Ship Lease had a net margin of 46.90% and a return on equity of 28.92%. During the same period in the previous year, the business posted $2.09 EPS. As a group, analysts forecast that Global Ship Lease will post 9.9 EPS for the current year.

Institutional Trading of Global Ship Lease

A number of institutional investors and hedge funds have recently modified their holdings of GSL. Donald Smith & CO. Inc. increased its position in shares of Global Ship Lease by 62.0% during the first quarter. Donald Smith & CO. Inc. now owns 2,533,701 shares of the shipping company’s stock worth $51,434,000 after purchasing an additional 969,536 shares in the last quarter. Whitefort Capital Management LP raised its position in shares of Global Ship Lease by 4.2% in the first quarter. Whitefort Capital Management LP now owns 1,977,224 shares of the shipping company’s stock valued at $40,138,000 after buying an additional 79,743 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Global Ship Lease by 3,779.3% in the second quarter. Acadian Asset Management LLC now owns 1,508,898 shares of the shipping company’s stock valued at $43,406,000 after buying an additional 1,470,002 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Global Ship Lease by 275.5% in the second 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 in the last quarter. Finally, Renaissance Technologies LLC boosted its position in Global Ship Lease by 97.9% during the second quarter. Renaissance Technologies LLC now owns 557,050 shares of the shipping company’s stock worth $16,037,000 after acquiring an additional 275,500 shares during the last quarter. Hedge funds and other institutional investors own 50.08% of the company’s stock.

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.