Global Ship Lease (NYSE:GSL) Cut 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 report released on Tuesday.

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

Global Ship Lease Stock Up 0.3 %

Shares of NYSE GSL opened at $22.40 on Tuesday. Global Ship Lease has a 1 year low of $16.80 and a 1 year high of $22.65. The firm’s 50 day moving average price is $20.48 and its 200 day moving average price is $19.61. The firm has a market cap of $788.08 million, a P/E ratio of 2.69 and a beta of 1.50. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.00 and a current ratio of 1.05.

Global Ship Lease (NYSE:GSL) last announced its earnings results on Monday, March 4th. The shipping company reported $2.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.15. Global Ship Lease had a net margin of 45.12% and a return on equity of 29.87%. The firm had revenue of $178.89 million for the quarter, compared to analyst estimates of $171.54 million. During the same quarter last year, the business earned $2.14 earnings per share. As a group, sell-side analysts anticipate that Global Ship Lease will post 9.4 earnings per share for the current year.

Hedge Funds Weigh In On Global Ship Lease

A number of hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC raised its stake in shares of Global Ship Lease by 2.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 23,037 shares of the shipping company’s stock valued at $423,000 after acquiring an additional 603 shares during the period. Signaturefd LLC increased its stake in Global Ship Lease by 87.6% during the 4th quarter. Signaturefd LLC now owns 2,024 shares of the shipping company’s stock worth $40,000 after buying an additional 945 shares during the period. Kestra Advisory Services LLC increased its stake in Global Ship Lease by 12.0% during the 3rd quarter. Kestra Advisory Services LLC now owns 11,808 shares of the shipping company’s stock worth $217,000 after buying an additional 1,264 shares during the period. WINTON GROUP Ltd increased its stake in Global Ship Lease by 6.5% during the 3rd quarter. WINTON GROUP Ltd now owns 21,500 shares of the shipping company’s stock worth $394,000 after buying an additional 1,311 shares during the period. Finally, Exchange Traded Concepts LLC increased its stake in Global Ship Lease by 7.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 21,303 shares of the shipping company’s stock worth $391,000 after buying an additional 1,477 shares during the period. Hedge funds and other institutional investors own 50.08% of the company’s stock.

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.