Global Ship Lease (NYSE:GSL) Stock Rating Lowered by StockNews.com

Global Ship Lease (NYSE:GSL) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday.

Separately, Jefferies Financial Group boosted their price target on Global Ship Lease from $26.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, May 16th.

Global Ship Lease Stock Up 0.9 %

NYSE:GSL opened at $28.48 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of 3.22 and a beta of 1.64. Global Ship Lease has a twelve month low of $16.80 and a twelve month high of $30.32. The stock’s 50 day moving average price is $25.63 and its two-hundred day moving average price is $22.07.

Global Ship Lease (NYSE:GSL) last posted its earnings results on Thursday, May 16th. The shipping company reported $2.53 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.19. The business had revenue of $179.56 million for the quarter, compared to analyst estimates of $170.70 million. Global Ship Lease had a return on equity of 29.44% and a net margin of 46.30%. Equities research analysts expect that Global Ship Lease will post 9.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Global Ship Lease

A number of institutional investors and hedge funds have recently bought and sold shares of GSL. Whittier Trust Co. bought a new stake in shares of Global Ship Lease during the 4th quarter valued at about $40,000. Signaturefd LLC boosted its holdings in Global Ship Lease by 87.6% in the fourth quarter. Signaturefd LLC now owns 2,024 shares of the shipping company’s stock worth $40,000 after acquiring an additional 945 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Global Ship Lease by 150.2% in the fourth quarter. Quadrant Capital Group LLC now owns 7,186 shares of the shipping company’s stock valued at $142,000 after purchasing an additional 4,314 shares in the last quarter. Clear Street Markets LLC bought a new position in shares of Global Ship Lease in the fourth quarter valued at approximately $172,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of Global Ship Lease in the fourth quarter valued at approximately $201,000. Institutional investors and hedge funds 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.