Global Ship Lease (NYSE:GSL) Lowered to Neutral Rating by Clarkson Capital

Clarkson Capital downgraded shares of Global Ship Lease (NYSE:GSL) from a buy rating to a neutral rating in a research report report published on Thursday, MarketBeat reports. They currently have $27.00 target price on the shipping company’s stock.

Other equities research analysts have also issued research reports about the stock. StockNews.com lowered shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a report on Friday, October 25th. Jefferies Financial Group reaffirmed a “buy” rating and set a $29.00 price objective on shares of Global Ship Lease in a research note on Monday.

Global Ship Lease Stock Down 0.7 %

Shares of GSL stock traded down $0.16 during trading on Thursday, hitting $23.66. 233,181 shares of the company were exchanged, compared to its average volume of 557,745. The firm has a market capitalization of $872.11 million, a price-to-earnings ratio of 2.61 and a beta of 1.62. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.36 and a current ratio of 1.64. Global Ship Lease has a twelve month low of $17.47 and a twelve month high of $30.32. The business’s 50-day simple moving average is $24.54 and its 200 day simple moving average is $25.93.

Global Ship Lease (NYSE:GSL) last issued its earnings results on Monday, November 11th. The shipping company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.43 by $0.02. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. The firm had revenue of $174.06 million during the quarter, compared to analysts’ expectations of $175.83 million. During the same period last year, the business earned $2.33 earnings per share. As a group, analysts forecast that Global Ship Lease will post 9.85 EPS for the current fiscal year.

Global Ship Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders 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 dividend yield of 7.61%. The ex-dividend date of this dividend is Friday, November 22nd. Global Ship Lease’s payout ratio is presently 16.61%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GSL. Donald Smith & CO. Inc. grew its stake in shares of Global Ship Lease by 62.0% during 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 purchasing an additional 969,536 shares during the last quarter. Whitefort Capital Management LP increased its stake in shares of Global Ship Lease by 4.2% in the 1st quarter. Whitefort Capital Management LP now owns 1,977,224 shares of the shipping company’s stock valued at $40,138,000 after buying an additional 79,743 shares during the period. Acadian Asset Management LLC raised its position in shares of Global Ship Lease by 3,779.3% during the second quarter. Acadian Asset Management LLC now owns 1,508,898 shares of the shipping company’s stock worth $43,406,000 after acquiring an additional 1,470,002 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Global Ship Lease by 275.5% during the second quarter. Marshall Wace LLP now owns 1,068,524 shares of the shipping company’s stock valued at $30,763,000 after acquiring an additional 783,963 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in Global Ship Lease by 97.9% in the second quarter. Renaissance Technologies LLC now owns 557,050 shares of the shipping company’s stock valued at $16,037,000 after acquiring an additional 275,500 shares during the last quarter. 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.