Global Ship Lease (NYSE:GSL) Lowered to Buy at StockNews.com

StockNews.com cut shares of Global Ship Lease (NYSE:GSLFree Report) from a strong-buy rating to a buy rating in a report released on Monday.

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

Get Our Latest Stock Report on GSL

Global Ship Lease Price Performance

GSL stock opened at $24.19 on Monday. The firm has a market cap of $851.07 million, a P/E ratio of 2.90 and a beta of 1.46. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.00 and a current ratio of 1.05. Global Ship Lease has a 1 year low of $16.80 and a 1 year high of $24.42. The stock has a 50-day simple moving average of $21.19 and a 200-day simple moving average of $20.07.

Global Ship Lease (NYSE:GSLGet Free Report) last released its quarterly earnings results on Monday, March 4th. The shipping company reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.15. Global Ship Lease had a return on equity of 29.87% and a net margin of 45.12%. The firm had revenue of $178.89 million during the quarter, compared to analysts’ expectations of $171.54 million. During the same quarter in the prior year, the business earned $2.14 EPS. On average, equities analysts predict that Global Ship Lease will post 9.4 earnings per share for the current fiscal year.

Global Ship Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 24th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $1.50 dividend on an annualized basis and a yield of 6.20%. Global Ship Lease’s dividend payout ratio (DPR) is presently 18.01%.

Hedge Funds Weigh In On Global Ship Lease

A number of institutional investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC increased its stake in shares of Global Ship Lease by 2.7% in the third quarter. Janney Montgomery Scott LLC now owns 23,037 shares of the shipping company’s stock worth $423,000 after buying an additional 603 shares during the last quarter. Signaturefd LLC increased its position in shares of Global Ship Lease by 87.6% in the 4th quarter. Signaturefd LLC now owns 2,024 shares of the shipping company’s stock worth $40,000 after purchasing an additional 945 shares during the last quarter. Kestra Advisory Services LLC raised its stake in shares of Global Ship Lease by 12.0% in the 3rd quarter. Kestra Advisory Services LLC now owns 11,808 shares of the shipping company’s stock valued at $217,000 after purchasing an additional 1,264 shares in the last quarter. WINTON GROUP Ltd lifted its position in shares of Global Ship Lease by 6.5% during 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, Apollon Wealth Management LLC grew its stake in Global Ship Lease by 7.9% in the fourth quarter. Apollon Wealth Management LLC now owns 22,189 shares of the shipping company’s stock worth $440,000 after purchasing an additional 1,620 shares in the last quarter. 50.08% of the stock is owned by institutional investors and hedge funds.

Global Ship Lease Company Profile

(Get Free Report)

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.

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