Global Ship Lease (NYSE:GSL) Sets New 52-Week High at $23.01

Global Ship Lease, Inc. (NYSE:GSL) shares hit a new 52-week high on Monday . The company traded as high as $23.01 and last traded at $22.94, with a volume of 154024 shares changing hands. The stock had previously closed at $22.81.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GSL shares. Jefferies Financial Group reissued a “buy” rating and set a $25.00 price objective on shares of Global Ship Lease in a report on Monday, March 4th. StockNews.com raised shares of Global Ship Lease from a “buy” rating to a “strong-buy” rating in a report on Wednesday.

Global Ship Lease Stock Down 0.1 %

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 stock has a market capitalization of $800.22 million, a PE ratio of 2.73 and a beta of 1.50. The business’s fifty day moving average price is $20.67 and its two-hundred day moving average price is $19.75.

Global Ship Lease (NYSE:GSL) last posted its quarterly earnings results on Monday, March 4th. The shipping company reported $2.49 EPS for the quarter, beating the consensus estimate 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 company had revenue of $178.89 million for the quarter, compared to analyst estimates of $171.54 million. During the same period in the prior year, the company earned $2.14 earnings per share. On average, equities research analysts forecast that Global Ship Lease, Inc. will post 9.4 EPS for the current fiscal year.

Global Ship Lease Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 22nd were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 6.60%. The ex-dividend date of this dividend was Wednesday, February 21st. Global Ship Lease’s payout ratio is 18.01%.

Institutional Investors Weigh In On Global Ship Lease

Several hedge funds have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC boosted its holdings in Global Ship Lease by 2.7% in the third quarter. Janney Montgomery Scott LLC now owns 23,037 shares of the shipping company’s stock valued at $423,000 after purchasing an additional 603 shares during the last quarter. Signaturefd LLC boosted its stake in shares of 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 acquiring an additional 945 shares in the last quarter. Kestra Advisory Services LLC boosted its stake in shares of 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 acquiring an additional 1,264 shares in the last quarter. WINTON GROUP Ltd boosted its stake in shares of 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 acquiring an additional 1,311 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in shares of 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 acquiring an additional 1,477 shares in the last quarter. 50.08% of the stock is owned by hedge funds and other 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.