Global Ship Lease (NYSE:GSL) Raised to “Strong-Buy” at StockNews.com

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

A number of other equities research analysts have also recently commented on the stock. Clarkson Capital upgraded shares of Global Ship Lease from a “neutral” rating to a “buy” rating in a research report on Thursday, August 8th. Jefferies Financial Group reiterated a “buy” rating and issued a $29.00 target price on shares of Global Ship Lease in a research report on Monday, August 5th.

Global Ship Lease Stock Performance

Shares of NYSE GSL opened at $22.96 on Wednesday. The company’s fifty day moving average price is $25.83 and its 200 day moving average price is $24.67. Global Ship Lease has a 1 year low of $16.80 and a 1 year high of $30.32. The company has a market capitalization of $807.79 million, a PE ratio of 2.59 and a beta of 1.61. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.42.

Global Ship Lease (NYSE:GSL) last announced its quarterly earnings results on Monday, August 5th. The shipping company reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.19. The firm had revenue of $175.00 million for the quarter, compared to the consensus estimate of $172.07 million. Global Ship Lease had a net margin of 46.90% and a return on equity of 28.92%. During the same period in the prior year, the firm posted $2.09 earnings per share. On average, research analysts predict that Global Ship Lease will post 9.9 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Signaturefd LLC boosted its stake in shares of Global Ship Lease by 23.3% in the second quarter. Signaturefd LLC now owns 2,526 shares of the shipping company’s stock valued at $73,000 after purchasing an additional 477 shares during the period. Mather Group LLC. acquired a new stake in Global Ship Lease during the second quarter worth approximately $88,000. Blue Trust Inc. raised its holdings in Global Ship Lease by 2,642.1% during the second quarter. Blue Trust Inc. now owns 3,126 shares of the shipping company’s stock worth $90,000 after purchasing an additional 3,012 shares in the last quarter. Fairscale Capital LLC acquired a new stake in Global Ship Lease during the second quarter worth approximately $107,000. Finally, nVerses Capital LLC increased its holdings in shares of Global Ship Lease by 355.6% in the 2nd quarter. nVerses Capital LLC now owns 4,100 shares of the shipping company’s stock valued at $118,000 after acquiring an additional 3,200 shares during the period. Hedge funds and other institutional investors own 50.08% of the company’s stock.

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.