Global Ship Lease (NYSE:GSL) Receives “Buy” Rating from Jefferies Financial Group

Jefferies Financial Group reaffirmed their buy rating on shares of Global Ship Lease (NYSE:GSL) in a report published on Monday,Benzinga reports. They currently have a $29.00 price target on the shipping company’s stock.

Several other research firms have also commented on GSL. Clarkson Capital raised Global Ship Lease from a “neutral” rating to a “buy” rating in a research report on Thursday, August 8th. StockNews.com lowered Global Ship Lease from a “strong-buy” rating to a “buy” rating in a report on Friday, October 25th.

Global Ship Lease Trading Up 5.1 %

GSL opened at $24.43 on Monday. The firm has a market cap of $900.31 million, a price-to-earnings ratio of 2.63 and a beta of 1.62. Global Ship Lease has a 52 week low of $17.40 and a 52 week high of $30.32. The business’s 50 day moving average is $24.53 and its two-hundred day moving average is $25.95. The company has a quick ratio of 1.36, a current ratio of 1.42 and a debt-to-equity ratio of 0.40.

Global Ship Lease (NYSE:GSL) last released its quarterly earnings results on Monday, November 11th. The shipping company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.43 by $0.02. The company had revenue of $174.06 million for the quarter, compared to analyst estimates of $175.83 million. Global Ship Lease had a return on equity of 28.59% and a net margin of 46.38%. During the same quarter in the previous year, the company posted $2.33 earnings per share. On average, research analysts predict that Global Ship Lease will post 9.85 EPS for the current year.

Global Ship Lease Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Friday, November 22nd will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.37%. The ex-dividend date of this dividend is Friday, November 22nd. Global Ship Lease’s payout ratio is currently 16.61%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of GSL. Signaturefd LLC boosted its stake in shares of Global Ship Lease by 23.3% in the second quarter. Signaturefd LLC now owns 2,526 shares of the shipping company’s stock valued at $73,000 after buying an additional 477 shares in the last quarter. Simplicity Wealth LLC boosted its stake in shares of Global Ship Lease by 3.2% in the third quarter. Simplicity Wealth LLC now owns 16,236 shares of the shipping company’s stock valued at $433,000 after buying an additional 505 shares in the last quarter. Moors & Cabot Inc. boosted its stake in shares of Global Ship Lease by 2.2% in the third quarter. Moors & Cabot Inc. now owns 33,150 shares of the shipping company’s stock valued at $883,000 after buying an additional 700 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of Global Ship Lease by 14.8% in the first quarter. Tidal Investments LLC now owns 15,832 shares of the shipping company’s stock valued at $321,000 after buying an additional 2,038 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. boosted its stake in shares of Global Ship Lease by 6.5% in the second quarter. Redhawk Wealth Advisors Inc. now owns 37,987 shares of the shipping company’s stock valued at $1,094,000 after buying an additional 2,313 shares in the last quarter. 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.