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

StockNews.com upgraded shares of Global Ship Lease (NYSE:GSL) from a buy rating to a strong-buy rating in a research note released on Wednesday morning.

Separately, Jefferies Financial Group reiterated a buy rating and issued a $25.00 target price on shares of Global Ship Lease in a report on Monday, March 4th.

Global Ship Lease Price Performance

Shares of NYSE GSL opened at $23.14 on Wednesday. The company has a market capitalization of $814.30 million, a PE ratio of 2.78 and a beta of 1.46. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 0.52. Global Ship Lease has a twelve month low of $16.80 and a twelve month high of $23.28. The firm has a fifty day simple moving average of $20.85 and a 200 day simple moving average of $19.84.

Global Ship Lease (NYSE:GSL) last issued its quarterly earnings results on Monday, March 4th. The shipping company reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.15. The firm had revenue of $178.89 million during the quarter, compared to the consensus estimate of $171.54 million. Global Ship Lease had a return on equity of 29.87% and a net margin of 45.12%. During the same period last year, the business posted $2.14 EPS. On average, sell-side analysts forecast that Global Ship Lease will post 9.4 EPS for the current year.

Global Ship Lease Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 22nd were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 6.48%. The ex-dividend date was Wednesday, February 21st. Global Ship Lease’s dividend payout ratio (DPR) is currently 18.01%.

Institutional Trading of Global Ship Lease

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GSL. Whittier Trust Co. acquired a new stake in Global Ship Lease in the fourth quarter valued at approximately $40,000. Signaturefd LLC grew its position in Global Ship Lease by 87.6% in the 4th quarter. Signaturefd LLC now owns 2,024 shares of the shipping company’s stock valued at $40,000 after purchasing an additional 945 shares during the period. Quadrant Capital Group LLC increased its stake in Global Ship Lease by 150.2% during the 4th quarter. Quadrant Capital Group LLC now owns 7,186 shares of the shipping company’s stock valued at $142,000 after purchasing an additional 4,314 shares in the last quarter. Clear Street Markets LLC acquired a new position in Global Ship Lease during the fourth quarter worth $172,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Global Ship Lease during the fourth quarter worth $201,000. 50.08% of the stock is owned by institutional investors.

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.