ValuEngine Lowers Global Ship Lease (NYSE:GSL) to Strong Sell

ValuEngine cut shares of Global Ship Lease (NYSE:GSL) from a sell rating to a strong sell rating in a research report released on Tuesday, ValuEngine reports.

Separately, Zacks Investment Research upgraded Global Ship Lease from a hold rating to a strong-buy rating and set a $7.75 price objective for the company in a research report on Monday, June 3rd.

Shares of GSL opened at $7.80 on Tuesday. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.90 and a current ratio of 0.96. The stock has a 50 day simple moving average of $6.95 and a 200 day simple moving average of $6.11. Global Ship Lease has a 52-week low of $4.00 and a 52-week high of $11.20. The firm has a market capitalization of $67.51 million, a PE ratio of 4.41 and a beta of 0.96.

Global Ship Lease (NYSE:GSL) last issued its quarterly earnings data on Thursday, August 1st. The shipping company reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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.

Several institutional investors and hedge funds have recently modified their holdings of GSL. BlackRock Inc. acquired a new position in shares of Global Ship Lease in the 2nd quarter valued at approximately $110,000. Deutsche Bank AG acquired a new position in shares of Global Ship Lease in the 4th quarter valued at approximately $186,000. Clear Harbor Asset Management LLC grew its position 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 valued at $296,000 after purchasing an additional 22,781 shares during the period. Finally, Renaissance Technologies LLC grew its position 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 valued at $1,866,000 after purchasing an additional 26,750 shares during the period. Institutional investors and hedge funds own 4.71% of the company’s stock.

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.

Recommended Story: Forex

To view ValuEngine’s full report, visit ValuEngine’s official website.

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.