Global Ship Lease (NYSE:GSL) Raised to “Hold” at Zacks Research

Global Ship Lease (NYSE:GSL) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

GSL has been the topic of several other reports. Fearnley Fonds raised Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Global Ship Lease in a research note on Friday, July 17th. Wall Street Zen upgraded shares of Global Ship Lease from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Finally, Jefferies Financial Group assumed coverage on shares of Global Ship Lease in a research note on Friday, April 24th. They issued a “buy” rating and a $45.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $46.50.

Global Ship Lease Stock Up 0.9%

Shares of Global Ship Lease stock opened at $43.52 on Monday. The company has a current ratio of 2.26, a quick ratio of 2.21 and a debt-to-equity ratio of 0.27. The business’s 50 day simple moving average is $39.24 and its 200-day simple moving average is $38.71. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 4.13 and a beta of 0.90. Global Ship Lease has a twelve month low of $27.28 and a twelve month high of $43.89.

Global Ship Lease (NYSE:GSL) last announced its quarterly earnings results on Friday, May 22nd. The shipping company reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.16. Global Ship Lease had a return on equity of 21.11% and a net margin of 50.01%.The business had revenue of $198.08 million for the quarter, compared to the consensus estimate of $182.87 million. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities research analysts forecast that Global Ship Lease will post 9.5 earnings per share for the current year.

Institutional Investors Weigh In On Global Ship Lease

Several institutional investors have recently bought and sold shares of the stock. Samalin Investment Counsel LLC grew its position in Global Ship Lease by 1.3% in the 4th quarter. Samalin Investment Counsel LLC now owns 23,127 shares of the shipping company’s stock valued at $810,000 after buying an additional 291 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of Global Ship Lease by 1.4% during the 1st quarter. NewEdge Advisors LLC now owns 21,269 shares of the shipping company’s stock worth $792,000 after buying an additional 296 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Global Ship Lease by 5.2% during the 3rd quarter. Parallel Advisors LLC now owns 9,827 shares of the shipping company’s stock worth $302,000 after buying an additional 485 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Global Ship Lease by 49.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,579 shares of the shipping company’s stock worth $59,000 after acquiring an additional 522 shares during the period. Finally, Moors & Cabot Inc. lifted its stake in shares of Global Ship Lease by 0.7% in the 3rd quarter. Moors & Cabot Inc. now owns 83,650 shares of the shipping company’s stock worth $2,568,000 after acquiring an additional 600 shares during the period. Institutional investors and hedge funds own 50.08% of the company’s stock.

About Global Ship Lease

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.