Global Ship Lease (NYSE:GSL) Rating Lowered to Buy at StockNews.com

Global Ship Lease (NYSE:GSL) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday.

Separately, Jefferies Financial Group reissued a “buy” rating and set a $25.00 target price on shares of Global Ship Lease in a research note on Monday, March 4th.

Global Ship Lease Price Performance

GSL traded up $0.41 during trading on Tuesday, hitting $22.33. The company’s stock had a trading volume of 902,135 shares, compared to its average volume of 666,962. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 0.52. The business’s fifty day simple moving average is $20.44 and its 200 day simple moving average is $19.59. The firm has a market capitalization of $785.62 million, a price-to-earnings ratio of 2.68 and a beta of 1.50. Global Ship Lease has a twelve month low of $16.80 and a twelve month high of $22.60.

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 the consensus estimate of $2.34 by $0.15. The company had revenue of $178.89 million for 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 quarter in the prior year, the business earned $2.14 EPS. On average, equities research analysts forecast that Global Ship Lease will post 9.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

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