B. Riley Financial Forecasts Strong Price Appreciation for Global Ship Lease (NYSE:GSL) Stock

Global Ship Lease (NYSE:GSL) had its price target hoisted by analysts at B. Riley Financial from $48.00 to $52.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the shipping company’s stock. B. Riley Financial’s target price suggests a potential upside of 20.76% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Zacks Research upgraded shares of Global Ship Lease from a “strong sell” rating to a “hold” rating in a research report on Monday, July 27th. Jefferies Financial Group began coverage on Global Ship Lease in a research report on Friday, April 24th. They issued a “buy” rating and a $45.00 target price on the stock. Wall Street Zen raised Global Ship Lease from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Fearnley Fonds raised shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Global Ship Lease in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $48.50.

Global Ship Lease Price Performance

Shares of Global Ship Lease stock traded up $0.37 on Thursday, hitting $43.06. The company’s stock had a trading volume of 20,007 shares, compared to its average volume of 338,041. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 4.10 and a beta of 0.90. Global Ship Lease has a 1 year low of $27.28 and a 1 year high of $44.69. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.21 and a current ratio of 2.26. The firm has a fifty day moving average price of $39.83 and a 200-day moving average price of $39.03.

Global Ship Lease (NYSE:GSL) last posted its quarterly earnings data on Wednesday, August 5th. The shipping company reported $2.48 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.06. The business had revenue of $198.69 million during the quarter, compared to analysts’ expectations of $186.85 million. Global Ship Lease had a return on equity of 21.11% and a net margin of 50.01%.The business’s revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.67 earnings per share. As a group, sell-side analysts anticipate that Global Ship Lease will post 9.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Global Ship Lease

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Two Sigma Investments LP increased its stake in shares of Global Ship Lease by 2.7% in the third quarter. Two Sigma Investments LP now owns 626,787 shares of the shipping company’s stock worth $19,242,000 after acquiring an additional 16,188 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Global Ship Lease by 5.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 613,287 shares of the shipping company’s stock valued at $16,136,000 after purchasing an additional 31,047 shares during the last quarter. Qube Research & Technologies Ltd lifted its stake in shares of Global Ship Lease by 23.4% in the third quarter. Qube Research & Technologies Ltd now owns 567,442 shares of the shipping company’s stock worth $17,420,000 after buying an additional 107,651 shares during the last quarter. CSM Advisors LLC boosted its holdings in shares of Global Ship Lease by 3.0% during the 4th quarter. CSM Advisors LLC now owns 446,060 shares of the shipping company’s stock worth $15,629,000 after buying an additional 13,141 shares during the period. Finally, First Trust Advisors LP bought a new stake in Global Ship Lease during the first quarter valued at about $12,681,000. Institutional investors and hedge funds own 50.08% of the company’s stock.

Global Ship Lease Company Profile

Global Ship Lease (NYSE: GSL) is a Bermuda-based containership charter owner focused on acquiring, owning and leasing modern, fuel-efficient vessels to major liner operators. Founded in 2011 and listed on the New York Stock Exchange the same year, the company’s fleet primarily comprises post-Panamax containerships designed to serve the high-volume Asia–Europe and transpacific shipping lanes. By specializing in long-term charter agreements, Global Ship Lease aims to maintain stable revenue streams and minimize spot-market volatility.

The company’s business model centers on negotiating multi-year time charters with leading global shipping lines.