Wall Street Zen Upgrades Global Ship Lease (NYSE:GSL) to Buy

Global Ship Lease (NYSE:GSL) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

GSL has been the subject of several other reports. Clarkson Capital downgraded shares of Global Ship Lease from a “strong-buy” rating to a “hold” rating and set a $28.00 target price for the company. in a report on Thursday, May 22nd. Jefferies Financial Group raised their target price on shares of Global Ship Lease from $28.00 to $30.00 and gave the company a “buy” rating in a report on Monday, May 19th.

Global Ship Lease Stock Down 2.8%

Shares of NYSE GSL opened at $26.02 on Friday. The company has a quick ratio of 1.71, a current ratio of 1.77 and a debt-to-equity ratio of 0.40. Global Ship Lease has a 52 week low of $17.73 and a 52 week high of $30.19. The firm has a 50-day moving average price of $23.66 and a 200 day moving average price of $22.54. The stock has a market capitalization of $922.41 million, a price-to-earnings ratio of 2.46 and a beta of 1.19.

Global Ship Lease (NYSE:GSL) last announced its quarterly earnings data on Monday, May 19th. The shipping company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.27 by $0.38. Global Ship Lease had a net margin of 53.31% and a return on equity of 25.56%. The firm had revenue of $190.98 million during the quarter, compared to analysts’ expectations of $171.73 million. During the same quarter last year, the business earned $2.53 earnings per share. Equities research analysts anticipate that Global Ship Lease will post 9.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Global Ship Lease

Several hedge funds have recently added to or reduced their stakes in the business. SVB Wealth LLC purchased a new stake in shares of Global Ship Lease during the first quarter worth about $33,000. CIBC Private Wealth Group LLC grew its holdings in shares of Global Ship Lease by 6,856.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,600 shares of the shipping company’s stock worth $36,000 after buying an additional 1,577 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Global Ship Lease during the fourth quarter worth about $37,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Global Ship Lease during the fourth quarter worth about $46,000. Finally, WealthCollab LLC grew its holdings in shares of Global Ship Lease by 64.1% during the fourth quarter. WealthCollab LLC now owns 2,615 shares of the shipping company’s stock worth $57,000 after buying an additional 1,021 shares in the last quarter. 50.08% of the stock is currently owned by hedge funds and other institutional investors.

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.