Global Ship Lease (NYSE:GSL) Upgraded at Clarkson Capital

Clarkson Capital upgraded shares of Global Ship Lease (NYSE:GSL) from a hold rating to a strong-buy rating in a research note released on Wednesday,Zacks.com reports.

GSL has been the topic of a number of other research reports. StockNews.com lowered shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a report on Friday, March 7th. Jefferies Financial Group reiterated a “buy” rating and issued a $29.00 price objective on shares of Global Ship Lease in a report on Wednesday, March 5th.

Global Ship Lease Stock Down 2.3 %

Shares of Global Ship Lease stock opened at $23.33 on Wednesday. The company has a fifty day moving average price of $22.25 and a 200 day moving average price of $23.03. The company has a current ratio of 1.64, a quick ratio of 1.58 and a debt-to-equity ratio of 0.38. Global Ship Lease has a twelve month low of $19.73 and a twelve month high of $30.32. The stock has a market cap of $859.81 million, a price-to-earnings ratio of 2.58 and a beta of 1.47.

Global Ship Lease (NYSE:GSL) last announced 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 during the quarter, compared to analysts’ expectations of $170.71 million. Equities research analysts forecast that Global Ship Lease will post 9.74 earnings per share for the current fiscal year.

Global Ship Lease Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were paid a $0.45 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.72%. Global Ship Lease’s dividend payout ratio (DPR) is presently 18.50%.

Institutional Investors Weigh In On Global Ship Lease

A number of institutional investors have recently modified their holdings of the stock. Moors & Cabot Inc. raised its stake in shares of Global Ship Lease by 2.2% in the 3rd quarter. Moors & Cabot Inc. now owns 33,150 shares of the shipping company’s stock valued at $883,000 after purchasing an additional 700 shares in the last quarter. WealthCollab LLC raised its stake in shares of Global Ship Lease by 64.1% in the 4th 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. Isthmus Partners LLC raised its stake in shares of Global Ship Lease by 1.3% in the 4th quarter. Isthmus Partners LLC now owns 112,832 shares of the shipping company’s stock valued at $2,463,000 after purchasing an additional 1,460 shares in the last quarter. Quarry LP raised its stake in Global Ship Lease by 75.0% during the third quarter. Quarry LP now owns 3,495 shares of the shipping company’s stock worth $93,000 after acquiring an additional 1,498 shares during the period. Finally, CIBC Private Wealth Group LLC raised its stake in Global Ship Lease by 6,856.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,600 shares of the shipping company’s stock worth $36,000 after acquiring an additional 1,577 shares during the period. Institutional investors and hedge funds 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.