Global Ship Lease (NYSE:GSL) Earns “Buy” Rating from Jefferies Financial Group

Jefferies Financial Group reaffirmed their buy rating on shares of Global Ship Lease (NYSE:GSL) in a report published on Monday morning,Benzinga reports. The firm currently has a $29.00 price objective on the shipping company’s stock.

A number of other equities research analysts have also recently commented on GSL. Clarkson Capital raised shares of Global Ship Lease from a “neutral” rating to a “buy” rating in a research report on Thursday, August 8th. StockNews.com cut Global Ship Lease from a “strong-buy” rating to a “buy” rating in a report on Friday, October 25th.

Global Ship Lease Trading Up 0.8 %

Global Ship Lease stock opened at $23.44 on Monday. The stock has a market cap of $864.05 million, a P/E ratio of 2.54 and a beta of 1.62. Global Ship Lease has a 1 year low of $17.00 and a 1 year high of $30.32. 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 firm’s 50 day moving average price is $24.55 and its 200-day moving average price is $25.95.

Global Ship Lease (NYSE:GSL) last announced its earnings results on Monday, November 11th. The shipping company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.02. Global Ship Lease had a return on equity of 28.92% and a net margin of 46.90%. During the same quarter last year, the firm earned $2.33 earnings per share. On average, equities analysts predict that Global Ship Lease will post 9.85 earnings per share for the current fiscal year.

Global Ship Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 7.68%. The ex-dividend date of this dividend is Friday, November 22nd. Global Ship Lease’s dividend payout ratio (DPR) is presently 16.39%.

Hedge Funds Weigh In On Global Ship Lease

Institutional investors and hedge funds have recently modified their holdings of the company. Foundry Partners LLC increased its position in shares of Global Ship Lease by 45.2% during the third quarter. Foundry Partners LLC now owns 475,956 shares of the shipping company’s stock worth $12,684,000 after purchasing an additional 148,247 shares in the last quarter. Moran Wealth Management LLC purchased a new stake in shares of Global Ship Lease during the third quarter worth approximately $2,894,000. Moors & Cabot Inc. lifted its holdings in shares of Global Ship Lease by 2.2% during the third quarter. Moors & Cabot Inc. now owns 33,150 shares of the shipping company’s stock worth $883,000 after purchasing an additional 700 shares during the period. GSA Capital Partners LLP increased its stake in shares of Global Ship Lease by 62.5% during the third quarter. GSA Capital Partners LLP now owns 173,391 shares of the shipping company’s stock worth $4,621,000 after acquiring an additional 66,714 shares during the period. Finally, Crescent Grove Advisors LLC purchased a new stake in shares of Global Ship Lease during the 3rd quarter worth $252,000. Institutional investors and hedge funds own 50.08% of the company’s stock.

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.