Global Ship Lease (NYSE:GSL) Upgraded by Clarkson Capital to “Strong-Buy” Rating

Global Ship Lease (NYSE:GSL) was upgraded by Clarkson Capital from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Several other analysts also recently commented on the company. Jefferies Financial Group reiterated a “buy” rating and set a $29.00 target price on shares of Global Ship Lease in a research note on Wednesday, March 5th. StockNews.com downgraded Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 7th.

Global Ship Lease Stock Up 1.0 %

GSL stock opened at $23.88 on Wednesday. Global Ship Lease has a twelve month low of $19.68 and a twelve month high of $30.32. The company has a quick ratio of 1.58, a current ratio of 1.64 and a debt-to-equity ratio of 0.38. The firm has a market cap of $880.34 million, a PE ratio of 2.64 and a beta of 1.47. The business has a 50 day moving average of $22.22 and a 200 day moving average of $23.04.

Global Ship Lease (NYSE:GSL) last issued its earnings results on Wednesday, March 5th. The shipping company reported $2.55 EPS for the quarter, beating the consensus estimate of $2.30 by $0.25. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. The business had revenue of $182.43 million for the quarter, compared to the consensus estimate of $170.71 million. On average, research analysts forecast that Global Ship Lease will post 9.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Global Ship Lease

A number of institutional investors and hedge funds have recently modified their holdings of the company. Donald Smith & CO. Inc. boosted its stake in shares of Global Ship Lease by 69.0% in the 4th quarter. Donald Smith & CO. Inc. now owns 3,139,470 shares of the shipping company’s stock worth $68,535,000 after buying an additional 1,281,941 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Global Ship Lease by 34.9% in the 4th quarter. Renaissance Technologies LLC now owns 629,750 shares of the shipping company’s stock worth $13,747,000 after buying an additional 162,900 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Global Ship Lease by 2.7% in the 4th quarter. Harbor Capital Advisors Inc. now owns 519,913 shares of the shipping company’s stock worth $11,350,000 after buying an additional 13,828 shares during the last quarter. Foundry Partners LLC boosted its stake in shares of Global Ship Lease by 5.8% in the 4th quarter. Foundry Partners LLC now owns 503,745 shares of the shipping company’s stock worth $10,997,000 after buying an additional 27,789 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Global Ship Lease by 2.3% during the third quarter. JPMorgan Chase & Co. now owns 391,053 shares of the shipping company’s stock valued at $10,422,000 after purchasing an additional 8,890 shares in the last quarter. 50.08% of the stock is currently owned by hedge funds and other institutional investors.

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.