Global Ship Lease (NYSE:GSL) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Global Ship Lease, Inc. (NYSE:GSL)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $30.37 and traded as high as $34.75. Global Ship Lease shares last traded at $34.49, with a volume of 264,456 shares.

Analyst Upgrades and Downgrades

GSL has been the subject of a number of research analyst reports. Jefferies Financial Group increased their price target on Global Ship Lease from $33.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Zacks Research raised Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Global Ship Lease in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Global Ship Lease currently has an average rating of “Buy” and a consensus target price of $33.50.

Global Ship Lease Trading Up 2.0%

The company has a debt-to-equity ratio of 0.34, a current ratio of 2.19 and a quick ratio of 2.14. The firm has a fifty day simple moving average of $32.84 and a two-hundred day simple moving average of $30.37. The firm has a market capitalization of $1.23 billion, a P/E ratio of 3.10 and a beta of 0.98.

Global Ship Lease (NYSE:GSL) last issued its quarterly earnings results on Wednesday, November 12th. The shipping company reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.35. The firm had revenue of $192.67 million for the quarter, compared to analysts’ expectations of $180.36 million. Global Ship Lease had a return on equity of 23.98% and a net margin of 53.62%.The business’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, equities research analysts anticipate that Global Ship Lease, Inc. will post 9.74 earnings per share for the current fiscal year.

Global Ship Lease Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Friday, November 21st were given a dividend of $0.625 per share. This is a boost from Global Ship Lease’s previous quarterly dividend of $0.55. This represents a $2.50 dividend on an annualized basis and a yield of 7.2%. The ex-dividend date was Friday, November 21st. Global Ship Lease’s dividend payout ratio (DPR) is 22.44%.

Institutional Trading of Global Ship Lease

Hedge funds and other institutional investors have recently modified their holdings of the business. Donald Smith & CO. Inc. boosted its holdings in Global Ship Lease by 0.6% in the 2nd quarter. Donald Smith & CO. Inc. now owns 3,238,868 shares of the shipping company’s stock worth $85,215,000 after buying an additional 18,783 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Global Ship Lease during the second quarter worth $68,680,000. Acadian Asset Management LLC boosted its holdings in shares of Global Ship Lease by 7.3% in the second quarter. Acadian Asset Management LLC now owns 1,305,109 shares of the shipping company’s stock worth $34,314,000 after acquiring an additional 89,258 shares during the period. Two Sigma Investments LP grew its position in shares of Global Ship Lease by 2.7% in the third quarter. Two Sigma Investments LP now owns 626,787 shares of the shipping company’s stock valued at $19,242,000 after purchasing an additional 16,188 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Global Ship Lease by 5.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 613,287 shares of the shipping company’s stock valued at $16,136,000 after purchasing an additional 31,047 shares in the last quarter. Institutional investors own 50.08% of the company’s stock.

Global Ship Lease Company Profile

Global Ship Lease (NYSE: GSL) is a Bermuda-based containership charter owner focused on acquiring, owning and leasing modern, fuel-efficient vessels to major liner operators. Founded in 2011 and listed on the New York Stock Exchange the same year, the company’s fleet primarily comprises post-Panamax containerships designed to serve the high-volume Asia–Europe and transpacific shipping lanes. By specializing in long-term charter agreements, Global Ship Lease aims to maintain stable revenue streams and minimize spot-market volatility.

The company’s business model centers on negotiating multi-year time charters with leading global shipping lines.