Global Ship Lease (NYSE:GSL) Stock Rating Upgraded by Clarkson Capital

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

Several other research analysts have also recently commented on GSL. StockNews.com cut shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 7th. Jefferies Financial Group restated a “buy” rating and issued a $29.00 target price on shares of Global Ship Lease in a research report on Wednesday, March 5th.

Global Ship Lease Price Performance

GSL opened at $23.33 on Wednesday. The firm 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 has a fifty-two week low of $19.73 and a fifty-two week high of $30.32. The company’s 50-day moving average price is $22.25 and its 200 day moving average price is $23.03. The company has a quick ratio of 1.58, a current ratio of 1.64 and a debt-to-equity ratio of 0.38.

Global Ship Lease (NYSE:GSL) last released its quarterly earnings data on Wednesday, March 5th. The shipping company reported $2.55 earnings per share for the quarter, topping the consensus estimate 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. As a group, sell-side analysts expect that Global Ship Lease will post 9.74 earnings per share for the current year.

Global Ship Lease Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. CIBC Private Wealth Group LLC boosted its holdings in shares of Global Ship Lease by 6,856.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,600 shares of the shipping company’s stock valued at $36,000 after acquiring an additional 1,577 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Global Ship Lease in the fourth quarter valued at approximately $37,000. Steward Partners Investment Advisory LLC bought a new position in shares of Global Ship Lease in the fourth quarter valued at approximately $46,000. R Squared Ltd bought a new position in shares of Global Ship Lease in the fourth quarter valued at approximately $50,000. Finally, WealthCollab LLC boosted its holdings 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 acquiring an additional 1,021 shares in the last quarter. 50.08% of the stock is currently 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.