Global Ship Lease (NYSE:GSL) Downgraded by StockNews.com

StockNews.com cut shares of Global Ship Lease (NYSE:GSL) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday morning.

Separately, Jefferies Financial Group reaffirmed a buy rating and issued a $25.00 target price on shares of Global Ship Lease in a research report on Monday, March 4th.

Global Ship Lease Stock Performance

NYSE:GSL opened at $22.33 on Tuesday. The firm’s 50-day moving average is $20.44 and its 200-day moving average is $19.59. The company has a market cap of $785.62 million, a price-to-earnings ratio of 2.68 and a beta of 1.50. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.00 and a current ratio of 1.05. Global Ship Lease has a 52-week low of $16.80 and a 52-week high of $22.60.

Global Ship Lease (NYSE:GSL) last released its earnings results on Monday, March 4th. The shipping company reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.15. The business had revenue of $178.89 million for the quarter, compared to the consensus estimate of $171.54 million. Global Ship Lease had a return on equity of 29.87% and a net margin of 45.12%. During the same period last year, the business earned $2.14 earnings per share. Equities research analysts anticipate that Global Ship Lease will post 9.4 earnings per share for the current year.

Global Ship Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 22nd were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 6.72%. The ex-dividend date of this dividend was Wednesday, February 21st. Global Ship Lease’s payout ratio is 18.01%.

Hedge Funds Weigh In On Global Ship Lease

Hedge funds have recently modified their holdings of the stock. Whittier Trust Co. bought a new stake in Global Ship Lease in the fourth quarter valued at $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 in 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 in the last quarter. Clear Street Markets LLC bought a new position in Global Ship Lease during the 4th quarter valued at about $172,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Global Ship Lease in the fourth quarter valued at about $201,000. 50.08% of the stock is owned by institutional investors and hedge funds.

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.