Global Ship Lease (NYSE:GSL) Upgraded by Clarkson Capital to “Strong-Buy” Rating

Global Ship Lease (NYSE:GSL) was upgraded by Clarkson Capital from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. StockNews.com cut Global Ship Lease from a “strong-buy” rating to a “buy” rating in a report on Friday, March 7th. Jefferies Financial Group reissued a “buy” rating and set a $29.00 price target on shares of Global Ship Lease in a report on Wednesday, March 5th.

Global Ship Lease Price Performance

NYSE GSL opened at $23.88 on Wednesday. The company has a market capitalization of $880.34 million, a PE ratio of 2.64 and a beta of 1.47. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.58 and a current ratio of 1.64. The business’s fifty day moving average is $22.22 and its 200 day moving average is $23.04. Global Ship Lease has a fifty-two week low of $19.68 and a fifty-two week high of $30.32.

Global Ship Lease (NYSE:GSL) last released its earnings results on Wednesday, March 5th. The shipping company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.25. The company had revenue of $182.43 million for the quarter, compared to the consensus estimate of $170.71 million. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. Sell-side analysts predict that Global Ship Lease will post 9.74 earnings per share for the current year.

Institutional Investors Weigh In On Global Ship Lease

Several large investors have recently made changes to their positions in GSL. Donald Smith & CO. Inc. increased its holdings in shares of Global Ship Lease by 69.0% in the fourth quarter. Donald Smith & CO. Inc. now owns 3,139,470 shares of the shipping company’s stock worth $68,535,000 after purchasing an additional 1,281,941 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Global Ship Lease by 34.9% in the fourth quarter. Renaissance Technologies LLC now owns 629,750 shares of the shipping company’s stock worth $13,747,000 after purchasing an additional 162,900 shares during the last quarter. Moran Wealth Management LLC bought a new stake in shares of Global Ship Lease in the third quarter worth about $2,894,000. Trexquant Investment LP increased its holdings in shares of Global Ship Lease by 46.7% in the fourth quarter. Trexquant Investment LP now owns 183,684 shares of the shipping company’s stock worth $4,010,000 after purchasing an additional 58,470 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in shares of Global Ship Lease in the fourth quarter worth about $1,238,000. 50.08% of the stock is owned by institutional investors.

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.