Global Ship Lease (NYSE:GSL) Stock Price Down 5.4%

Global Ship Lease, Inc. (NYSE:GSL) shares dropped 5.4% on Friday . The company traded as low as $27.54 and last traded at $27.66. Approximately 265,411 shares traded hands during trading, a decline of 61% from the average daily volume of 679,092 shares. The stock had previously closed at $29.25.

Analyst Upgrades and Downgrades

GSL has been the subject of a number of research reports. Jefferies Financial Group boosted their target price on shares of Global Ship Lease from $26.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. StockNews.com upgraded shares of Global Ship Lease from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 26th.

Global Ship Lease Price Performance

The company has a current ratio of 1.24, a quick ratio of 1.18 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $974.06 million, a PE ratio of 3.12 and a beta of 1.64. The firm has a 50 day moving average price of $27.30 and a 200 day moving average price of $22.87.

Global Ship Lease (NYSE:GSL) last posted its quarterly earnings data on Thursday, May 16th. The shipping company reported $2.53 EPS for the quarter, topping the consensus estimate of $2.34 by $0.19. The firm had revenue of $179.56 million during the quarter, compared to analyst estimates of $170.70 million. Global Ship Lease had a return on equity of 29.44% and a net margin of 46.30%. Research analysts anticipate that Global Ship Lease, Inc. will post 9.61 earnings per share for the current year.

Global Ship Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 24th were paid a $0.375 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.50 annualized dividend and a dividend yield of 5.42%. Global Ship Lease’s dividend payout ratio (DPR) is 16.95%.

Institutional Investors Weigh In On Global Ship Lease

A number of institutional investors have recently bought and sold shares of GSL. Donald Smith & CO. Inc. increased its stake in Global Ship Lease by 235.9% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,564,165 shares of the shipping company’s stock worth $31,002,000 after buying an additional 1,098,558 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in Global Ship Lease in the 4th quarter worth $21,588,000. Whitefort Capital Management LP increased its stake in Global Ship Lease by 4.2% in the 1st quarter. Whitefort Capital Management LP now owns 1,977,224 shares of the shipping company’s stock worth $40,138,000 after buying an additional 79,743 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Global Ship Lease by 287.1% in the 4th quarter. BNP Paribas Financial Markets now owns 94,823 shares of the shipping company’s stock worth $1,879,000 after buying an additional 70,329 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in Global Ship Lease in the 4th quarter worth $1,261,000. Hedge funds and other institutional investors 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.