Global Ship Lease (NYSE:GSL) Price Target Raised to $25.00 at Jefferies Financial Group

Global Ship Lease (NYSE:GSL – Get Rating) had its price objective boosted by Jefferies Financial Group from $22.00 to $25.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a buy rating on the shipping company’s stock. Jefferies Financial Group also issued estimates for Global Ship Lease’s Q2 2023 earnings at $2.08 EPS and FY2024 earnings at $10.44 EPS.

Other analysts have also issued reports about the company. StockNews.com lowered Global Ship Lease from a buy rating to a hold rating in a research note on Thursday, July 21st. TheStreet lowered Global Ship Lease from a b rating to a c+ rating in a research note on Monday, May 2nd.

Global Ship Lease Price Performance

Shares of NYSE GSL opened at $19.62 on Friday. The business’s 50 day moving average price is $18.46 and its two-hundred day moving average price is $22.95. The company has a market cap of $715.35 million, a PE ratio of 2.80 and a beta of 1.78. The company has a quick ratio of 0.61, a current ratio of 0.65 and a debt-to-equity ratio of 1.08. Global Ship Lease has a twelve month low of $14.62 and a twelve month high of $30.02.

Global Ship Lease (NYSE:GSL – Get Rating) last released its earnings results on Monday, May 9th. The shipping company reported $1.91 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.91. The company had revenue of $153.63 million for the quarter, compared to analyst estimates of $148.40 million. Global Ship Lease had a return on equity of 37.98% and a net margin of 43.86%. During the same period in the prior year, the firm posted $0.55 EPS. On average, analysts predict that Global Ship Lease will post 7.23 EPS for the current year.

Global Ship Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 2nd. Shareholders of record on Tuesday, August 23rd will be issued a $0.375 dividend. The ex-dividend date is Monday, August 22nd. This represents a $1.50 dividend on an annualized basis and a yield of 7.65%. Global Ship Lease’s payout ratio is currently 21.43%.

Institutional Investors Weigh In On Global Ship Lease

A number of hedge funds have recently added to or reduced their stakes in GSL. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Global Ship Lease during the first quarter valued at approximately $27,000. Retirement Planning Co of New England Inc. bought a new stake in shares of Global Ship Lease during the fourth quarter valued at approximately $31,000. Selective Wealth Management Inc. increased its holdings in shares of Global Ship Lease by 566.7% during the first quarter. Selective Wealth Management Inc. now owns 2,000 shares of the shipping company’s stock valued at $57,000 after acquiring an additional 1,700 shares in the last quarter. American National Bank bought a new stake in shares of Global Ship Lease during the fourth quarter valued at approximately $75,000. Finally, Lazard Asset Management LLC increased its holdings in shares of Global Ship Lease by 327.4% during the fourth quarter. Lazard Asset Management LLC now owns 3,295 shares of the shipping company’s stock valued at $75,000 after acquiring an additional 2,524 shares in the last quarter. 44.90% of the stock is currently owned by institutional investors.

Global Ship Lease Company Profile

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Global Ship Lease, Inc owns and charters containerships of various sizes under fixed-rate charters to container shipping companies. As of March 10, 2022, it owned 65 mid-sized and smaller containerships with an aggregate capacity of 342,348 twenty-foot equivalent units. The company was founded in 2007 and is based in London, the United Kingdom.