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

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

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

Global Ship Lease Stock Performance

Shares of GSL stock traded down $0.10 during trading hours on Friday, reaching $23.93. The stock had a trading volume of 186,184 shares, compared to its average volume of 567,751. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.42 and a quick ratio of 1.36. Global Ship Lease has a twelve month low of $16.80 and a twelve month high of $30.32. The firm has a 50-day simple moving average of $24.91 and a 200-day simple moving average of $25.71. The firm has a market capitalization of $882.06 million, a PE ratio of 2.62 and a beta of 1.60.

Global Ship Lease (NYSE:GSL) last released its quarterly earnings data on Monday, August 5th. The shipping company reported $2.46 earnings per share 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 business had revenue of $175.00 million for the quarter, compared to analysts’ expectations of $172.07 million. During the same quarter last year, the company earned $2.09 EPS. As a group, equities analysts forecast that Global Ship Lease will post 9.9 earnings per share for the current year.

Hedge Funds Weigh In On Global Ship Lease

A number of institutional investors and hedge funds have recently bought and sold shares of GSL. Signaturefd LLC boosted its position in shares of Global Ship Lease by 23.3% during the 2nd quarter. Signaturefd LLC now owns 2,526 shares of the shipping company’s stock valued at $73,000 after purchasing an additional 477 shares in the last quarter. Simplicity Wealth LLC boosted its position in shares of Global Ship Lease by 3.2% during the 3rd quarter. Simplicity Wealth LLC now owns 16,236 shares of the shipping company’s stock valued at $433,000 after purchasing an additional 505 shares in the last quarter. Tidal Investments LLC boosted its position in shares of Global Ship Lease by 14.8% during the 1st quarter. Tidal Investments LLC now owns 15,832 shares of the shipping company’s stock valued at $321,000 after purchasing an additional 2,038 shares in the last quarter. Redhawk Wealth Advisors Inc. boosted its position in shares of Global Ship Lease by 6.5% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 37,987 shares of the shipping company’s stock valued at $1,094,000 after purchasing an additional 2,313 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of Global Ship Lease by 10.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 28,751 shares of the shipping company’s stock valued at $584,000 after purchasing an additional 2,703 shares in the last quarter. Institutional investors own 50.08% of the company’s stock.

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.