Global Ship Lease Inc (NYSE:GSL) Receives Consensus Recommendation of “Strong Buy” from Brokerages

Global Ship Lease Inc (NYSE:GSL) has received an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.

Analysts have set a 12 month consensus target price of $9.00 for the company, according to Zacks. Zacks has also assigned Global Ship Lease an industry rank of 162 out of 256 based on the ratings given to its competitors.

GSL has been the topic of several recent research reports. ValuEngine lowered shares of Global Ship Lease from a “sell” rating to a “strong sell” rating in a report on Tuesday. Zacks Investment Research raised shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating and set a $7.75 price objective for the company in a report on Monday, June 3rd.

Several large investors have recently added to or reduced their stakes in GSL. Deutsche Bank AG bought a new position in shares of Global Ship Lease in the fourth quarter worth about $186,000. Clear Harbor Asset Management LLC lifted its holdings in shares of Global Ship Lease by 131.0% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 40,170 shares of the shipping company’s stock worth $296,000 after purchasing an additional 22,781 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Global Ship Lease by 11.8% in the 2nd quarter. Renaissance Technologies LLC now owns 252,975 shares of the shipping company’s stock worth $1,866,000 after purchasing an additional 26,750 shares in the last quarter. Finally, BlackRock Inc. bought a new position in shares of Global Ship Lease in the 2nd quarter worth $110,000. Hedge funds and other institutional investors own 4.71% of the company’s stock.

Shares of NYSE:GSL traded up $0.05 on Friday, reaching $7.75. The company had a trading volume of 500 shares, compared to its average volume of 11,144. Global Ship Lease has a 52-week low of $4.00 and a 52-week high of $11.20. The firm’s 50 day simple moving average is $6.95 and its 200-day simple moving average is $6.07. The firm has a market capitalization of $77.93 million, a PE ratio of 4.43 and a beta of 0.96. The company has a current ratio of 0.96, a quick ratio of 0.90 and a debt-to-equity ratio of 2.36.

Global Ship Lease (NYSE:GSL) last posted its earnings results on Thursday, August 1st. The shipping company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.19). Global Ship Lease had a negative net margin of 22.25% and a positive return on equity of 8.60%. The business had revenue of $63.09 million during the quarter.

About Global Ship Lease

Global Ship Lease, Inc owns and charters containerships of various sizes under fixed-rate charters to container shipping companies. As of December 31, 2018, it owned 38 vessels with a total capacity of 200,615 twenty-foot equivalent units. The company is based in London, the United Kingdom.

Further Reading: The role of implied volatility with call option volume

Get a free copy of the Zacks research report on Global Ship Lease (GSL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Global Ship Lease Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Ship Lease and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit