Global Ship Lease (NYSE:GSL) Reaches New 52-Week High at $30.32

Global Ship Lease, Inc. (NYSE:GSLGet Free Report)’s stock price hit a new 52-week high on Monday . The stock traded as high as $30.32 and last traded at $30.06, with a volume of 82959 shares traded. The stock had previously closed at $29.91.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GSL. Jefferies Financial Group boosted their price objective 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. StockNews.com raised shares of Global Ship Lease from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 21st.

View Our Latest Stock Report on Global Ship Lease

Global Ship Lease Stock Down 3.9 %

The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 3.24 and a beta of 1.64. The business has a fifty day simple moving average of $23.87 and a two-hundred day simple moving average of $21.26. The company has a quick ratio of 1.18, a current ratio of 1.24 and a debt-to-equity ratio of 0.46.

Global Ship Lease (NYSE:GSLGet Free Report) last announced its quarterly earnings results on Monday, March 4th. The shipping company reported $2.49 EPS for the quarter, beating the consensus estimate of $2.34 by $0.15. Global Ship Lease had a return on equity of 29.44% and a net margin of 46.30%. The business had revenue of $178.89 million for the quarter, compared to analyst estimates of $171.54 million. During the same quarter in the previous year, the firm earned $2.14 EPS. Equities analysts expect that Global Ship Lease, Inc. will post 9.61 EPS for the current year.

Global Ship Lease Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 24th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 5.24%. The ex-dividend date was Thursday, May 23rd. Global Ship Lease’s payout ratio is 16.95%.

Institutional Trading of Global Ship Lease

Large investors have recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. boosted its holdings in shares of Global Ship Lease by 62.0% in the 1st quarter. Donald Smith & CO. Inc. now owns 2,533,701 shares of the shipping company’s stock worth $51,434,000 after acquiring an additional 969,536 shares in the last quarter. Whitefort Capital Management LP boosted its stake in Global Ship Lease by 4.2% in the first quarter. Whitefort Capital Management LP now owns 1,977,224 shares of the shipping company’s stock worth $40,138,000 after purchasing an additional 79,743 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in shares of Global Ship Lease during the fourth quarter worth $21,588,000. Foundry Partners LLC increased its stake in shares of Global Ship Lease by 4.8% in the first quarter. Foundry Partners LLC now owns 315,468 shares of the shipping company’s stock valued at $6,404,000 after buying an additional 14,529 shares in the last quarter. Finally, Isthmus Partners LLC lifted its position in Global Ship Lease by 47.6% during the 1st quarter. Isthmus Partners LLC now owns 141,493 shares of the shipping company’s stock worth $2,872,000 after buying an additional 45,613 shares in the last quarter. 50.08% of the stock is owned by institutional investors.

Global Ship Lease Company Profile

(Get Free Report)

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.

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