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

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

A number of other equities research analysts have also issued reports on GSL. Jefferies Financial Group reaffirmed a “buy” rating and issued a $29.00 price target on shares of Global Ship Lease in a report on Wednesday, March 5th. Clarkson Capital cut Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 target price for the company. in a report on Thursday, November 14th.

Global Ship Lease Trading Up 0.6 %

Shares of GSL stock opened at $23.43 on Friday. Global Ship Lease has a fifty-two week low of $19.22 and a fifty-two week high of $30.32. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.58 and a current ratio of 1.64. The stock’s fifty day moving average is $22.03 and its two-hundred day moving average is $23.14. The firm has a market capitalization of $863.68 million, a P/E 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 earnings per share 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 analyst estimates of $170.71 million. Research analysts expect that Global Ship Lease will post 9.74 earnings per share for the current fiscal year.

Global Ship Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were issued a $0.45 dividend. 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 is presently 18.50%.

Institutional Investors Weigh In On Global Ship Lease

A number of institutional investors have recently made changes to their positions in the stock. CIBC Private Wealth Group LLC raised its holdings in shares of Global Ship Lease by 6,856.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,600 shares of the shipping company’s stock valued at $36,000 after buying an additional 1,577 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Global Ship Lease during the fourth quarter worth about $37,000. Steward Partners Investment Advisory LLC purchased a new stake in Global Ship Lease during the fourth quarter worth about $46,000. R Squared Ltd acquired a new stake in shares of Global Ship Lease during the fourth quarter worth about $50,000. Finally, WealthCollab LLC boosted its stake in shares of Global Ship Lease by 64.1% in 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 during the period. 50.08% of the stock is currently 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.