Global Ship Lease (NYSE:GSL) Rating Lowered to Neutral at Clarkson Capital

Global Ship Lease (NYSE:GSL) was downgraded by stock analysts at Clarkson Capital from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday, MarketBeat Ratings reports. They presently have a $27.00 price objective on the shipping company’s stock. Clarkson Capital’s price objective indicates a potential upside of 14.19% from the company’s current price.

GSL has been the subject of several other research reports. StockNews.com cut shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 25th. Jefferies Financial Group reiterated a “buy” rating and issued a $29.00 price target on shares of Global Ship Lease in a report on Monday, November 11th.

Global Ship Lease Stock Down 0.7 %

GSL stock opened at $23.65 on Thursday. Global Ship Lease has a one year low of $17.47 and a one year high of $30.32. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.36 and a current ratio of 1.64. The company has a fifty day moving average of $24.55 and a 200-day moving average of $25.93. The stock has a market capitalization of $871.60 million, a PE ratio of 2.62 and a beta of 1.62.

Global Ship Lease (NYSE:GSL) last announced its quarterly earnings data on Monday, November 11th. The shipping company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.02. The company had revenue of $174.06 million for the quarter, compared to analyst estimates of $175.83 million. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. During the same quarter in the previous year, the company earned $2.33 EPS. As a group, analysts expect that Global Ship Lease will post 9.85 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Donald Smith & CO. Inc. boosted its position in shares of Global Ship Lease by 62.0% during the first quarter. Donald Smith & CO. Inc. now owns 2,533,701 shares of the shipping company’s stock worth $51,434,000 after buying an additional 969,536 shares during the period. Whitefort Capital Management LP boosted its position in Global Ship Lease by 4.2% during the 1st quarter. Whitefort Capital Management LP now owns 1,977,224 shares of the shipping company’s stock worth $40,138,000 after acquiring an additional 79,743 shares during the period. Acadian Asset Management LLC grew its stake in shares of Global Ship Lease by 3,779.3% in the second quarter. Acadian Asset Management LLC now owns 1,508,898 shares of the shipping company’s stock worth $43,406,000 after purchasing an additional 1,470,002 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Global Ship Lease by 275.5% in the second quarter. Marshall Wace LLP now owns 1,068,524 shares of the shipping company’s stock worth $30,763,000 after purchasing an additional 783,963 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Global Ship Lease by 97.9% during the second quarter. Renaissance Technologies LLC now owns 557,050 shares of the shipping company’s stock valued at $16,037,000 after purchasing an additional 275,500 shares during the period. 50.08% of the stock is owned by institutional investors and hedge funds.

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.