Global Ship Lease (NYSE:GSL) Reaches New 12-Month High at $21.95

Global Ship Lease, Inc. (NYSE:GSL)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $21.95 and last traded at $21.87, with a volume of 622488 shares changing hands. The stock had previously closed at $21.34.

Wall Street Analysts Forecast Growth

GSL has been the subject of a number of recent research reports. Jefferies Financial Group reiterated a “buy” rating and set a $25.00 price objective on shares of Global Ship Lease in a research report on Monday, March 4th. StockNews.com downgraded shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research note on Tuesday.

Global Ship Lease Price Performance

The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $791.78 million, a price-to-earnings ratio of 2.68 and a beta of 1.50. The stock’s 50 day moving average price is $20.44 and its two-hundred day moving average price is $19.59.

Global Ship Lease (NYSE:GSL) last posted its earnings results on Monday, March 4th. The shipping company reported $2.49 EPS for the quarter, topping the consensus estimate of $2.34 by $0.15. The firm had revenue of $178.89 million for the quarter, compared to the consensus estimate of $171.54 million. Global Ship Lease had a net margin of 45.12% and a return on equity of 29.87%. During the same period in the prior year, the business posted $2.14 earnings per share. Analysts anticipate that Global Ship Lease, Inc. will post 9.4 EPS for the current fiscal year.

Global Ship Lease Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 22nd were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 6.67%. The ex-dividend date was Wednesday, February 21st. Global Ship Lease’s payout ratio is presently 18.01%.

Institutional Investors Weigh In On Global Ship Lease

Several hedge funds have recently made changes to their positions in the stock. BluePath Capital Management LLC bought a new stake in shares of Global Ship Lease in the first quarter valued at about $559,000. ARGA Investment Management LP bought a new stake in shares of Global Ship Lease in the first quarter valued at about $1,227,000. Quadrature Capital Ltd bought a new stake in shares of Global Ship Lease in the fourth quarter valued at about $1,261,000. Clear Street Markets LLC bought a new stake in shares of Global Ship Lease in the fourth quarter valued at about $172,000. Finally, Campbell & CO Investment Adviser LLC lifted its stake in Global Ship Lease by 44.6% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 85,702 shares of the shipping company’s stock worth $1,699,000 after purchasing an additional 26,435 shares during the period. Institutional investors own 50.08% of the company’s stock.

About Global Ship Lease

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.