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

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

Separately, Jefferies Financial Group reaffirmed a “buy” rating and set a $25.00 price objective on shares of Global Ship Lease in a research note on Monday, March 4th.

Global Ship Lease Stock Performance

Shares of GSL traded up $0.41 during trading hours on Tuesday, hitting $22.33. The company’s stock had a trading volume of 902,135 shares, compared to its average volume of 666,962. The company has a market cap of $785.62 million, a price-to-earnings ratio of 2.68 and a beta of 1.50. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.00. The business has a 50 day simple moving average of $20.44 and a two-hundred day simple moving average of $19.59. Global Ship Lease has a 52-week low of $16.80 and a 52-week high of $22.60.

Global Ship Lease (NYSE:GSL) last issued its quarterly earnings data on Monday, March 4th. The shipping company reported $2.49 EPS for the quarter, beating the consensus estimate of $2.34 by $0.15. The company had revenue of $178.89 million during the quarter, compared to analysts’ expectations of $171.54 million. Global Ship Lease had a net margin of 45.12% and a return on equity of 29.87%. During the same quarter in the previous year, the company earned $2.14 earnings per share. On average, equities analysts expect that Global Ship Lease will post 9.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Global Ship Lease

A number of hedge funds have recently made changes to their positions in GSL. Donald Smith & CO. Inc. raised its holdings in Global Ship Lease by 235.9% during the 4th quarter. Donald Smith & CO. Inc. now owns 1,564,165 shares of the shipping company’s stock valued at $31,002,000 after buying an additional 1,098,558 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of Global Ship Lease during the 4th quarter valued at about $21,588,000. Foundry Partners LLC boosted its holdings in shares of Global Ship Lease by 19.8% in the third quarter. Foundry Partners LLC now owns 306,024 shares of the shipping company’s stock worth $5,612,000 after buying an additional 50,680 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in Global Ship Lease by 2.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 129,586 shares of the shipping company’s stock worth $2,377,000 after acquiring an additional 3,356 shares during the period. Finally, Qube Research & Technologies Ltd raised its stake in Global Ship Lease by 47.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 106,676 shares of the shipping company’s stock worth $1,956,000 after acquiring an additional 34,313 shares during the period. 50.08% of the stock is currently owned by institutional investors.

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.