Global Ship Lease (NYSE:GSL) Downgraded to Buy at StockNews.com

Global Ship Lease (NYSE:GSL) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Friday.

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

Global Ship Lease Stock Down 0.4 %

NYSE GSL opened at $23.93 on Friday. The business’s fifty day simple moving average is $24.91 and its 200-day simple moving average is $25.71. The company has a quick ratio of 1.36, a current ratio of 1.42 and a debt-to-equity ratio of 0.40. The firm has a market cap of $882.06 million, a PE ratio of 2.62 and a beta of 1.60. Global Ship Lease has a 52 week low of $16.80 and a 52 week high of $30.32.

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

Hedge Funds Weigh In On Global Ship Lease

Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in Global Ship Lease during the 2nd quarter valued at about $2,130,000. BluePath Capital Management LLC purchased a new position in shares of Global Ship Lease in the first quarter valued at approximately $559,000. Marshall Wace LLP grew its holdings 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 valued at $30,763,000 after purchasing an additional 783,963 shares in the last quarter. Sei Investments Co. increased its stake in Global Ship Lease by 780.1% during the 2nd quarter. Sei Investments Co. now owns 103,658 shares of the shipping company’s stock worth $2,984,000 after buying an additional 91,880 shares during the period. Finally, Mackenzie Financial Corp purchased a new stake in Global Ship Lease during the 2nd quarter worth approximately $1,980,000. 50.08% of the stock is currently 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.