Global Ship Lease (NYSE:GSL) Rating Increased to Strong-Buy at StockNews.com

Global Ship Lease (NYSE:GSL) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday.

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

Global Ship Lease Trading Down 1.9 %

NYSE:GSL opened at $28.85 on Wednesday. Global Ship Lease has a fifty-two week low of $16.80 and a fifty-two week high of $30.32. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 1.18. The stock has a market capitalization of $1.02 billion, a PE ratio of 3.26 and a beta of 1.64. The business’s 50-day simple moving average is $26.61 and its 200-day simple moving average is $22.51.

Global Ship Lease (NYSE:GSL) last released its quarterly earnings data on Thursday, May 16th. The shipping company reported $2.53 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.19. Global Ship Lease had a return on equity of 29.44% and a net margin of 46.30%. The business had revenue of $179.56 million for the quarter, compared to analysts’ expectations of $170.70 million. Sell-side analysts expect that Global Ship Lease will post 9.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Global Ship Lease

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