Global Ship Lease (NYSE:GSL) Hits New 12-Month High at $23.01

Global Ship Lease, Inc. (NYSE:GSL) hit a new 52-week high on Monday . The company traded as high as $23.01 and last traded at $22.94, with a volume of 154024 shares. The stock had previously closed at $22.81.

Analyst Upgrades and Downgrades

GSL has been the topic of several recent research reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $25.00 price target 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 report on Tuesday, April 23rd.

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’s 50-day moving average is $20.57 and its 200-day moving average is $19.68. The company has a market cap of $809.02 million, a PE ratio of 2.73 and a beta of 1.50.

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

Global Ship Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 22nd were paid a $0.375 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $1.50 dividend on an annualized basis and a dividend yield of 6.52%. Global Ship Lease’s payout ratio is currently 18.01%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GSL. Whittier Trust Co. purchased a new position in Global Ship Lease during the fourth quarter worth about $40,000. Signaturefd LLC lifted its position in Global Ship Lease by 87.6% during the 4th quarter. Signaturefd LLC now owns 2,024 shares of the shipping company’s stock worth $40,000 after acquiring an additional 945 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of 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 acquiring an additional 4,314 shares during the last quarter. Clear Street Markets LLC acquired a new stake in Global Ship Lease in the fourth quarter valued at $172,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in Global Ship Lease during the fourth quarter valued at approximately $201,000. 50.08% of the stock is currently owned by institutional investors and hedge funds.

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.