Global Ship Lease (NYSE:GSL) Downgraded to Buy Rating by StockNews.com

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

Several other analysts have also recently commented on GSL. Jefferies Financial Group reissued 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 downgraded 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 Stock Performance

Shares of GSL opened at $23.43 on Friday. Global Ship Lease has a 1 year low of $19.22 and a 1 year high of $30.32. The stock has a market capitalization of $863.68 million, a P/E ratio of 2.59 and a beta of 1.47. 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 company’s fifty day moving average is $22.03 and its two-hundred day moving average is $23.14.

Global Ship Lease (NYSE:GSL) last issued its quarterly earnings results on Wednesday, March 5th. The shipping company reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.25. The business had revenue of $182.43 million for the quarter, compared to analyst estimates of $170.71 million. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. On average, sell-side analysts predict that Global Ship Lease will post 9.74 earnings per share for the current year.

Global Ship Lease Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were issued a $0.45 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.80 dividend on an annualized basis and a yield of 7.68%. Global Ship Lease’s dividend payout ratio (DPR) is presently 18.50%.

Institutional Investors Weigh In On Global Ship Lease

Institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC boosted its position in shares of Global Ship Lease by 126.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 90,840 shares of the shipping company’s stock worth $2,421,000 after buying an additional 50,660 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Global Ship Lease in the third quarter valued at about $712,000. Foundry Partners LLC grew its position in shares of Global Ship Lease by 45.2% in the third quarter. Foundry Partners LLC now owns 475,956 shares of the shipping company’s stock valued at $12,684,000 after purchasing an additional 148,247 shares during the last quarter. DGS Capital Management LLC increased its stake in shares of Global Ship Lease by 125.1% during the 4th quarter. DGS Capital Management LLC now owns 46,158 shares of the shipping company’s stock worth $1,008,000 after purchasing an additional 25,651 shares in the last quarter. Finally, Moran Wealth Management LLC purchased a new position in shares of Global Ship Lease during the 3rd quarter worth approximately $2,894,000. Hedge funds and other institutional investors own 50.08% of the company’s stock.

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.