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

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

Several other analysts have also recently commented on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a $29.00 price objective on shares of Global Ship Lease in a research note on Wednesday. Clarkson Capital cut shares of Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 price objective for the company. in a research note on Thursday, November 14th.

Global Ship Lease Stock Up 0.6 %

GSL stock opened at $23.43 on Friday. Global Ship Lease has a one year low of $19.22 and a one year high of $30.32. The stock has a market capitalization of $863.68 million, a PE ratio of 2.59 and a beta of 1.47. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.58 and a current ratio of 1.64. The company has a fifty day moving average of $22.03 and a 200-day moving average of $23.16.

Global Ship Lease (NYSE:GSL) last released its earnings results on Wednesday, March 5th. The shipping company reported $2.55 EPS for the quarter, topping the consensus estimate of $2.30 by $0.25. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. The company had revenue of $182.43 million during the quarter, compared to analysts’ expectations of $170.71 million. As a group, analysts expect that Global Ship Lease will post 9.74 EPS for the current year.

Institutional Trading of Global Ship Lease

Several hedge funds and other institutional investors have recently made changes to their positions in GSL. Moors & Cabot Inc. increased its holdings in Global Ship Lease by 2.2% during the 3rd quarter. Moors & Cabot Inc. now owns 33,150 shares of the shipping company’s stock valued at $883,000 after acquiring an additional 700 shares in the last quarter. WealthCollab LLC increased its holdings in Global Ship Lease by 64.1% during the 4th quarter. WealthCollab LLC now owns 2,615 shares of the shipping company’s stock valued at $57,000 after acquiring an additional 1,021 shares in the last quarter. Isthmus Partners LLC increased its holdings in Global Ship Lease by 1.3% during the 4th quarter. Isthmus Partners LLC now owns 112,832 shares of the shipping company’s stock valued at $2,463,000 after acquiring an additional 1,460 shares in the last quarter. Quarry LP increased its holdings in Global Ship Lease by 75.0% during the 3rd quarter. Quarry LP now owns 3,495 shares of the shipping company’s stock valued at $93,000 after acquiring an additional 1,498 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its holdings in Global Ship Lease by 6,856.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,600 shares of the shipping company’s stock valued at $36,000 after acquiring an additional 1,577 shares in the last quarter. Institutional investors and hedge funds 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.