Global Ship Lease (NYSE:GSL) Downgraded by StockNews.com to Buy

StockNews.com cut shares of Global Ship Lease (NYSE:GSL) from a strong-buy rating to a buy rating in a research note published on Tuesday morning.

Separately, Jefferies Financial Group reaffirmed a buy rating and set a $25.00 target price on shares of Global Ship Lease in a research report on Monday, March 4th.

Global Ship Lease Trading Up 1.5 %

NYSE GSL opened at $22.81 on Tuesday. The company has a market cap of $802.51 million, a price-to-earnings ratio of 2.74 and a beta of 1.50. Global Ship Lease has a 52 week low of $16.80 and a 52 week high of $22.97. The business has a 50 day moving average price of $20.57 and a 200-day moving average price of $19.66. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 0.52.

Global Ship Lease (NYSE:GSL) last released its quarterly earnings data on Monday, March 4th. The shipping company reported $2.49 EPS for the quarter, beating the consensus estimate of $2.34 by $0.15. The firm had revenue of $178.89 million during the quarter, compared to the consensus estimate of $171.54 million. Global Ship Lease had a return on equity of 29.87% and a net margin of 45.12%. During the same quarter in the previous year, the company posted $2.14 earnings per share. As a group, equities analysts expect that Global Ship Lease will post 9.4 earnings per share for the current fiscal year.

Global Ship Lease Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 22nd were given a dividend of $0.375 per share. The ex-dividend date was Wednesday, February 21st. This represents a $1.50 annualized dividend and a dividend yield of 6.58%. Global Ship Lease’s payout ratio is 18.01%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Janney Montgomery Scott LLC boosted its position in shares of 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 buying an additional 603 shares during the last quarter. Signaturefd LLC boosted its position in shares of 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 buying an additional 945 shares during the last quarter. Kestra Advisory Services LLC boosted its position in shares of 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 buying an additional 1,264 shares during the last quarter. WINTON GROUP Ltd boosted its position in 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 purchasing an additional 1,311 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in Global Ship Lease by 7.4% in the third quarter. Exchange Traded Concepts LLC now owns 21,303 shares of the shipping company’s stock worth $391,000 after purchasing an additional 1,477 shares during the last quarter. 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.