Global Ship Lease’s (GSL) “Buy” Rating Reiterated at Jefferies Financial Group

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

A number of other brokerages have also recently commented on GSL. StockNews.com cut Global Ship Lease from a “strong-buy” rating to a “buy” rating in a report on Friday, October 25th. Clarkson Capital upgraded Global Ship Lease from a “neutral” rating to a “buy” rating in a report on Thursday, August 8th.

Global Ship Lease Stock Up 5.1 %

Shares of NYSE:GSL opened at $24.43 on Monday. The business has a 50-day moving average price of $24.53 and a 200 day moving average price of $25.95. The company has a current ratio of 1.42, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $900.31 million, a price-to-earnings ratio of 2.63 and a beta of 1.62. Global Ship Lease has a 12-month low of $17.40 and a 12-month high of $30.32.

Global Ship Lease (NYSE:GSL) last issued its quarterly earnings data on Monday, November 11th. The shipping company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.02. The firm had revenue of $174.06 million during the quarter, compared to the consensus estimate 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 period last year, the company earned $2.33 EPS. Sell-side analysts expect that Global Ship Lease will post 9.85 EPS for the current year.

Global Ship Lease Dividend Announcement

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

Hedge Funds Weigh In On Global Ship Lease

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Signaturefd LLC boosted its stake in shares of Global Ship Lease by 23.3% in the 2nd quarter. Signaturefd LLC now owns 2,526 shares of the shipping company’s stock valued at $73,000 after buying an additional 477 shares during the period. Mather Group LLC. purchased a new position in shares of Global Ship Lease in the 2nd quarter valued at about $88,000. Blue Trust Inc. boosted its stake in shares of Global Ship Lease by 2,642.1% in the 2nd quarter. Blue Trust Inc. now owns 3,126 shares of the shipping company’s stock valued at $90,000 after buying an additional 3,012 shares during the period. Fairscale Capital LLC purchased a new stake in Global Ship Lease during the second quarter worth approximately $107,000. Finally, nVerses Capital LLC lifted its stake in Global Ship Lease by 355.6% during the second quarter. nVerses Capital LLC now owns 4,100 shares of the shipping company’s stock worth $118,000 after purchasing an additional 3,200 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.