Global Ship Lease’s (GSL) “Buy” Rating Reaffirmed at Jefferies Financial Group

Jefferies Financial Group restated their buy rating on shares of Global Ship Lease (NYSE:GSL) in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a $29.00 target price on the shipping company’s stock.

GSL has been the subject of several other research reports. StockNews.com upgraded shares of Global Ship Lease from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 25th. Clarkson Capital downgraded Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 price target for the company. in a research report on Thursday, November 14th.

Global Ship Lease Stock Up 8.0 %

Shares of NYSE:GSL opened at $23.04 on Wednesday. The business’s 50 day moving average is $21.97 and its 200 day moving average is $23.21. Global Ship Lease has a 12-month low of $19.22 and a 12-month high of $30.32. The stock has a market cap of $849.12 million, a price-to-earnings ratio of 2.55 and a beta of 1.53. The company has a quick ratio of 1.58, a current ratio of 1.64 and a debt-to-equity ratio of 0.38.

Global Ship Lease (NYSE:GSL) last posted its quarterly earnings data on Wednesday, March 5th. The shipping company reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.25. The firm had revenue of $182.43 million for the quarter, compared to the consensus estimate of $170.71 million. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. On average, sell-side analysts forecast that Global Ship Lease will post 9.74 earnings per share for the current fiscal year.

Global Ship Lease Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Monday, February 24th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 7.81%. The ex-dividend date is Monday, February 24th. Global Ship Lease’s payout ratio is 19.93%.

Institutional Investors Weigh In On Global Ship Lease

A number of hedge funds have recently modified their holdings of the stock. CIBC Private Wealth Group LLC grew its holdings in Global Ship Lease by 6,856.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,600 shares of the shipping company’s stock valued at $36,000 after purchasing an additional 1,577 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Global Ship Lease during the 4th quarter valued at $37,000. Steward Partners Investment Advisory LLC bought a new position in shares of Global Ship Lease during the 4th quarter worth $46,000. R Squared Ltd purchased a new stake in Global Ship Lease in the 4th quarter worth about $50,000. Finally, WealthCollab LLC raised its stake in Global Ship Lease by 64.1% in 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 during the period. 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.