Global Ship Lease (NYSE:GSL) Upgraded to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Global Ship Lease (NYSE:GSL) from a buy rating to a strong-buy rating in a research report sent to investors on Tuesday morning.

Separately, Jefferies Financial Group increased their target price on Global Ship Lease from $26.00 to $29.00 and gave the stock a buy rating in a research report on Thursday, May 16th.

Global Ship Lease Trading Up 0.2 %

Shares of GSL opened at $27.74 on Tuesday. Global Ship Lease has a fifty-two week low of $16.80 and a fifty-two week high of $28.00. The business has a 50-day moving average of $22.38 and a 200 day moving average of $20.57. The firm has a market cap of $976.17 million, a P/E ratio of 3.13 and a beta of 1.46. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.00 and a current ratio of 1.24.

Global Ship Lease (NYSE:GSL) last posted its earnings results on Monday, March 4th. The shipping company reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.15. Global Ship Lease had a net margin of 46.30% and a return on equity of 29.44%. The firm had revenue of $178.89 million during the quarter, compared to the consensus estimate of $171.54 million. During the same quarter last year, the company earned $2.14 earnings per share. As a group, research analysts forecast that Global Ship Lease will post 9.61 EPS for the current year.

Global Ship Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 24th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date is Thursday, May 23rd. Global Ship Lease’s payout ratio is 16.95%.

Hedge Funds Weigh In On Global Ship Lease

Hedge funds have recently bought and sold shares of the company. Whittier Trust Co. purchased a new stake in Global Ship Lease in the 4th quarter worth approximately $40,000. Signaturefd LLC raised its position in shares of Global Ship Lease by 87.6% in the fourth quarter. Signaturefd LLC now owns 2,024 shares of the shipping company’s stock worth $40,000 after buying an additional 945 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in 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 valued at $142,000 after buying an additional 4,314 shares during the period. Clear Street Markets LLC purchased a new position in Global Ship Lease during the fourth quarter worth about $172,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Global Ship Lease in the 4th quarter worth about $201,000. Hedge funds and other 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.