Weiss Ratings Reaffirms Buy (B) Rating for Global Ship Lease (NYSE:GSL)

Global Ship Lease (NYSE:GSL)‘s stock had its “buy (b)” rating restated by equities researchers at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

GSL has been the topic of several other research reports. Jefferies Financial Group reiterated a “buy” rating and issued a $33.00 price target on shares of Global Ship Lease in a report on Tuesday, August 5th. Wall Street Zen upgraded shares of Global Ship Lease from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $30.50.

Global Ship Lease Stock Performance

GSL opened at $28.67 on Wednesday. Global Ship Lease has a 52-week low of $17.73 and a 52-week high of $33.08. The company has a quick ratio of 1.94, a current ratio of 2.01 and a debt-to-equity ratio of 0.37. The company has a market cap of $1.03 billion, a P/E ratio of 2.66 and a beta of 1.20. The firm’s 50-day moving average price is $30.64 and its 200-day moving average price is $26.50.

Global Ship Lease (NYSE:GSL) last posted its quarterly earnings data on Tuesday, August 5th. The shipping company reported $2.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.52. Global Ship Lease had a net margin of 53.09% and a return on equity of 24.81%. The firm had revenue of $191.86 million for the quarter, compared to the consensus estimate of $177.98 million. As a group, equities analysts anticipate that Global Ship Lease will post 9.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Isthmus Partners LLC lifted its position in shares of Global Ship Lease by 0.3% during the 2nd quarter. Isthmus Partners LLC now owns 113,972 shares of the shipping company’s stock valued at $2,999,000 after buying an additional 347 shares in the last quarter. Prospera Financial Services Inc lifted its position in shares of Global Ship Lease by 4.5% during the 2nd quarter. Prospera Financial Services Inc now owns 11,023 shares of the shipping company’s stock valued at $290,000 after buying an additional 477 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Global Ship Lease by 6.7% during the 2nd quarter. Parallel Advisors LLC now owns 9,342 shares of the shipping company’s stock valued at $246,000 after buying an additional 584 shares in the last quarter. Sigma Planning Corp lifted its position in shares of Global Ship Lease by 3.2% during the 2nd quarter. Sigma Planning Corp now owns 19,250 shares of the shipping company’s stock valued at $506,000 after buying an additional 600 shares in the last quarter. Finally, SBI Securities Co. Ltd. lifted its position in shares of Global Ship Lease by 41.9% during the 1st quarter. SBI Securities Co. Ltd. now owns 2,430 shares of the shipping company’s stock valued at $56,000 after buying an additional 717 shares in the last quarter. Hedge funds and other institutional investors 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.