Global Ship Lease (NYSE:GSL) PT Raised to $29.00

Global Ship Lease (NYSE:GSL) had its price objective lifted by investment analysts at Jefferies Financial Group from $26.00 to $29.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the shipping company’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 9.72% from the stock’s previous close.

Separately, StockNews.com cut shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research note on Monday.

Global Ship Lease Price Performance

Shares of GSL stock traded up $1.57 on Thursday, hitting $26.43. 897,125 shares of the stock traded hands, compared to its average volume of 673,522. The firm has a market cap of $930.07 million, a price-to-earnings ratio of 3.17 and a beta of 1.46. Global Ship Lease has a 52 week low of $16.80 and a 52 week high of $26.63. The firm has a 50 day simple moving average of $21.52 and a two-hundred day simple moving average of $20.19. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.00.

Global Ship Lease (NYSE:GSL) last announced its quarterly earnings results on Monday, March 4th. The shipping company reported $2.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $171.54 million. During the same period in the previous year, the firm posted $2.14 EPS. As a group, equities research analysts predict that Global Ship Lease will post 9.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Janney Montgomery Scott LLC lifted its position in Global Ship Lease by 2.7% during the third quarter. Janney Montgomery Scott LLC now owns 23,037 shares of the shipping company’s stock valued at $423,000 after purchasing an additional 603 shares during the period. Signaturefd LLC lifted its position in Global Ship Lease by 87.6% during the fourth quarter. Signaturefd LLC now owns 2,024 shares of the shipping company’s stock valued at $40,000 after purchasing an additional 945 shares during the period. Kestra Advisory Services LLC lifted its position in Global Ship Lease by 12.0% during the third quarter. Kestra Advisory Services LLC now owns 11,808 shares of the shipping company’s stock valued at $217,000 after purchasing an additional 1,264 shares during the period. WINTON GROUP Ltd raised its position in shares of Global Ship Lease by 6.5% in the third quarter. WINTON GROUP Ltd now owns 21,500 shares of the shipping company’s stock worth $394,000 after acquiring an additional 1,311 shares during the period. Finally, Apollon Wealth Management LLC raised its position in shares of Global Ship Lease by 7.9% in the fourth quarter. Apollon Wealth Management LLC now owns 22,189 shares of the shipping company’s stock worth $440,000 after acquiring an additional 1,620 shares during the period. 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.