Global Ship Lease (NYSE:GSL) Receives “Buy” Rating from Jefferies Financial Group

Jefferies Financial Group reaffirmed their buy rating on shares of Global Ship Lease (NYSE:GSL) in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a $29.00 target price on the shipping company’s stock.

Several other research firms have also recently issued reports on GSL. StockNews.com upgraded shares of Global Ship Lease from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 25th. Clarkson Capital cut shares of Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 price target on the stock. in a report on Thursday, November 14th.

Global Ship Lease Price Performance

Shares of NYSE GSL opened at $23.04 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.58 and a current ratio of 1.64. Global Ship Lease has a fifty-two week low of $19.22 and a fifty-two week high of $30.32. The stock has a market cap of $849.12 million, a PE ratio of 2.55 and a beta of 1.53. The stock has a fifty day moving average of $21.97 and a 200-day moving average of $23.21.

Global Ship Lease (NYSE:GSL) last posted its earnings results on Wednesday, March 5th. The shipping company reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.25. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. The business had revenue of $182.43 million during the quarter, compared to analyst estimates of $170.71 million. Equities research analysts anticipate that Global Ship Lease will post 9.74 earnings per share for the current year.

Global Ship Lease Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Monday, February 24th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 7.81%. The ex-dividend date is Monday, February 24th. Global Ship Lease’s dividend payout ratio is currently 19.93%.

Hedge Funds Weigh In On Global Ship Lease

A number of hedge funds and other institutional investors have recently bought and sold shares of GSL. International Assets Investment Management LLC bought a new stake in shares of Global Ship Lease during the 3rd quarter worth $477,000. Janney Montgomery Scott LLC lifted its stake in Global Ship Lease by 126.1% during the third quarter. Janney Montgomery Scott LLC now owns 90,840 shares of the shipping company’s stock worth $2,421,000 after purchasing an additional 50,660 shares during the last quarter. Crescent Grove Advisors LLC bought a new stake in Global Ship Lease during the third quarter worth about $252,000. GSA Capital Partners LLP boosted its holdings in shares of Global Ship Lease by 62.5% in the 3rd quarter. GSA Capital Partners LLP now owns 173,391 shares of the shipping company’s stock worth $4,621,000 after purchasing an additional 66,714 shares in the last quarter. Finally, Moors & Cabot Inc. increased its position in shares of Global Ship Lease by 2.2% during the 3rd quarter. Moors & Cabot Inc. now owns 33,150 shares of the shipping company’s stock valued at $883,000 after purchasing an additional 700 shares during the last quarter. 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.