Global Ship Lease (NYSE:GSL) Rating Increased to Strong-Buy at StockNews.com

Global Ship Lease (NYSE:GSL) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday.

GSL has been the subject of a number of other research reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $29.00 price target on shares of Global Ship Lease in a research report on Monday, August 5th. Clarkson Capital raised Global Ship Lease from a “neutral” rating to a “buy” rating in a research report on Thursday, August 8th.

Global Ship Lease Stock Up 1.3 %

Global Ship Lease stock opened at $23.90 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.42 and a quick ratio of 1.36. The stock has a market capitalization of $840.82 million, a price-to-earnings ratio of 2.70 and a beta of 1.61. Global Ship Lease has a 1-year low of $16.80 and a 1-year high of $30.32. The business has a fifty day moving average price of $25.61 and a 200-day moving average price of $24.66.

Global Ship Lease (NYSE:GSL) last issued its quarterly earnings results on Monday, August 5th. The shipping company reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.19. Global Ship Lease had a return on equity of 28.92% and a net margin of 46.90%. The company had revenue of $175.00 million during the quarter, compared to analysts’ expectations of $172.07 million. During the same quarter in the previous year, the firm posted $2.09 EPS. Equities research analysts forecast that Global Ship Lease will post 9.9 EPS for the current fiscal year.

Hedge Funds Weigh In On Global Ship Lease

Institutional investors and hedge funds have recently modified their holdings of the business. Signaturefd LLC increased its stake in shares of Global Ship Lease by 23.3% in the 2nd quarter. Signaturefd LLC now owns 2,526 shares of the shipping company’s stock valued at $73,000 after purchasing an additional 477 shares in the last quarter. Mather Group LLC. purchased a new position in shares of Global Ship Lease in the 2nd quarter valued at about $88,000. Blue Trust Inc. increased its stake in shares of Global Ship Lease by 2,642.1% in the 2nd quarter. Blue Trust Inc. now owns 3,126 shares of the shipping company’s stock valued at $90,000 after purchasing an additional 3,012 shares in the last quarter. Fairscale Capital LLC purchased a new position in shares of Global Ship Lease in the 2nd quarter valued at about $107,000. Finally, nVerses Capital LLC increased its stake in shares of Global Ship Lease by 355.6% in the 2nd quarter. nVerses Capital LLC now owns 4,100 shares of the shipping company’s stock valued at $118,000 after purchasing an additional 3,200 shares in the last quarter. Hedge funds and other 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.