Global Ship Lease (NYSE:GSL) Receives Buy Rating from Jefferies Financial Group

Jefferies Financial Group reissued their buy rating on shares of Global Ship Lease (NYSE:GSL) in a research note released on Monday,Benzinga reports. They currently have a $29.00 target price on the shipping company’s stock.

Other research analysts have also recently issued reports about the stock. Clarkson Capital raised shares of Global Ship Lease from a “neutral” rating to a “buy” rating in a report on Thursday, August 8th. StockNews.com downgraded Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 25th.

Global Ship Lease Trading Down 2.5 %

Shares of GSL stock opened at $23.82 on Monday. The company has a market capitalization of $878.01 million, a P/E ratio of 2.66 and a beta of 1.62. The company has a current ratio of 1.42, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40. The business’s 50 day moving average is $24.54 and its two-hundred day moving average is $25.94. Global Ship Lease has a twelve month low of $17.47 and a twelve month high of $30.32.

Global Ship Lease (NYSE:GSL) last posted its quarterly earnings data on Monday, November 11th. The shipping company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.02. The firm had revenue of $174.06 million for the quarter, compared to analyst estimates of $175.83 million. Global Ship Lease had a net margin of 46.38% and a return on equity of 28.59%. During the same period last year, the firm posted $2.33 EPS. Equities analysts forecast that Global Ship Lease will post 9.85 EPS for the current year.

Global Ship Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Friday, November 22nd will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 7.56%. The ex-dividend date of this dividend is Friday, November 22nd. Global Ship Lease’s dividend payout ratio is currently 16.61%.

Institutional Investors Weigh In On Global Ship Lease

Hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC increased its stake in Global Ship Lease by 3,779.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,508,898 shares of the shipping company’s stock valued at $43,406,000 after purchasing an additional 1,470,002 shares in the last quarter. Donald Smith & CO. Inc. increased its position in shares of Global Ship Lease by 62.0% in the first quarter. Donald Smith & CO. Inc. now owns 2,533,701 shares of the shipping company’s stock valued at $51,434,000 after buying an additional 969,536 shares in the last quarter. Marshall Wace LLP increased its position in shares of Global Ship Lease by 275.5% in the second quarter. Marshall Wace LLP now owns 1,068,524 shares of the shipping company’s stock valued at $30,763,000 after buying an additional 783,963 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Global Ship Lease by 147.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 506,085 shares of the shipping company’s stock worth $13,487,000 after buying an additional 301,280 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Global Ship Lease by 97.9% in the 2nd quarter. Renaissance Technologies LLC now owns 557,050 shares of the shipping company’s stock worth $16,037,000 after buying an additional 275,500 shares in the last quarter. 50.08% of the stock is currently owned by institutional investors and hedge funds.

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.