Global Ship Lease, Inc. (NYSE:GSL) Given Consensus Rating of “Buy” by Analysts

Global Ship Lease, Inc. (NYSE:GSL) has received an average rating of “Buy” from the five analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $51.00.

Several brokerages have recently weighed in on GSL. Wall Street Zen lowered Global Ship Lease from a “buy” rating to a “hold” rating in a report on Saturday. Fearnley Fonds upgraded shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. B. Riley Financial increased their price objective on shares of Global Ship Lease from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Global Ship Lease in a report on Friday, July 17th. Finally, Jefferies Financial Group lifted their target price on shares of Global Ship Lease from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday.

Hedge Funds Weigh In On Global Ship Lease

A number of hedge funds have recently modified their holdings of GSL. Triumph Capital Management acquired a new stake in Global Ship Lease in the 3rd quarter valued at $25,000. Northwestern Mutual Wealth Management Co. acquired a new position in Global Ship Lease during the fourth quarter worth $29,000. Hilton Head Capital Partners LLC acquired a new position in Global Ship Lease during the fourth quarter worth $35,000. SHP Wealth Management bought a new position in shares of Global Ship Lease during the fourth quarter valued at $35,000. Finally, LOM Asset Management Ltd bought a new position in shares of Global Ship Lease during the fourth quarter valued at $49,000. 50.08% of the stock is owned by institutional investors and hedge funds.

Global Ship Lease Stock Down 0.4%

Shares of GSL opened at $42.27 on Monday. The company has a 50-day simple moving average of $40.08 and a 200-day simple moving average of $39.13. The firm has a market capitalization of $1.52 billion, a P/E ratio of 4.06 and a beta of 0.90. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.06 and a current ratio of 2.13. Global Ship Lease has a 52 week low of $27.28 and a 52 week high of $44.69.

Global Ship Lease (NYSE:GSL) last released its earnings results on Wednesday, August 5th. The shipping company reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.06. Global Ship Lease had a return on equity of 19.92% and a net margin of 49.10%.The business had revenue of $198.69 million for the quarter, compared to the consensus estimate of $186.85 million. During the same period last year, the business earned $2.67 earnings per share. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, equities research analysts expect that Global Ship Lease will post 9.62 earnings per share for the current year.

Global Ship Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Friday, August 21st will be issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend is Friday, August 21st. Global Ship Lease’s payout ratio is presently 24.04%.

About Global Ship Lease

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.