Clarkson Capital Downgrades Global Ship Lease (NYSE:GSL) to Neutral

Global Ship Lease (NYSE:GSL) was downgraded by stock analysts at Clarkson Capital from a “buy” rating to a “neutral” rating in a report released on Thursday, Marketbeat Ratings reports. They currently have a $27.00 target price on the shipping company’s stock. Clarkson Capital’s price target suggests a potential upside of 14.19% from the company’s current price.

GSL has been the topic of several other research reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $29.00 price target on shares of Global Ship Lease in a report on Monday, November 11th. StockNews.com downgraded Global Ship Lease from a “strong-buy” rating to a “buy” rating in a report on Friday, October 25th.

Global Ship Lease Trading Down 0.7 %

Shares of GSL stock opened at $23.65 on Thursday. The stock has a 50-day simple moving average of $24.55 and a 200 day simple moving average of $25.93. The stock has a market capitalization of $871.60 million, a P/E ratio of 2.62 and a beta of 1.62. Global Ship Lease has a fifty-two week low of $17.47 and a fifty-two week high of $30.32. The company has a quick ratio of 1.36, a current ratio of 1.64 and a debt-to-equity ratio of 0.38.

Global Ship Lease (NYSE:GSL) last posted its quarterly earnings data on Monday, November 11th. The shipping company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.02. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. The company had revenue of $174.06 million during the quarter, compared to analyst estimates of $175.83 million. During the same quarter last year, the firm posted $2.33 EPS. On average, sell-side analysts expect that Global Ship Lease will post 9.85 earnings per share for the current fiscal year.

Institutional Trading of Global Ship Lease

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC raised its stake in shares of Global Ship Lease by 3,779.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,508,898 shares of the shipping company’s stock valued at $43,406,000 after acquiring an additional 1,470,002 shares in the last quarter. Donald Smith & CO. Inc. boosted its position in Global Ship Lease by 62.0% during the first quarter. Donald Smith & CO. Inc. now owns 2,533,701 shares of the shipping company’s stock worth $51,434,000 after purchasing an additional 969,536 shares during the period. Marshall Wace LLP grew its holdings in Global Ship Lease by 275.5% during the second quarter. Marshall Wace LLP now owns 1,068,524 shares of the shipping company’s stock valued at $30,763,000 after purchasing an additional 783,963 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Global Ship Lease by 147.1% in the third quarter. Harbor Capital Advisors Inc. now owns 506,085 shares of the shipping company’s stock valued at $13,487,000 after purchasing an additional 301,280 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of Global Ship Lease by 97.9% in the second quarter. Renaissance Technologies LLC now owns 557,050 shares of the shipping company’s stock worth $16,037,000 after buying an additional 275,500 shares during 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.