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

Global Ship Lease (NYSE:GSL)‘s stock had its “buy” rating reaffirmed by investment analysts at Jefferies Financial Group in a report released on Monday,Benzinga reports. They currently have a $29.00 price objective on the shipping company’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 24.84% from the stock’s current price.

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

Global Ship Lease Stock Performance

Global Ship Lease stock opened at $23.23 on Monday. Global Ship Lease has a 1-year low of $17.00 and a 1-year high of $30.32. The company has a current ratio of 1.42, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $856.30 million, a PE ratio of 2.54 and a beta of 1.62. The firm’s 50 day simple moving average is $24.55 and its 200 day simple moving average is $25.95.

Global Ship Lease (NYSE:GSL) last issued its quarterly earnings data on Monday, November 11th. The shipping company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.02. Global Ship Lease had a return on equity of 28.92% and a net margin of 46.90%. The company had revenue of $174.06 million for the quarter, compared to the consensus estimate of $175.83 million. During the same quarter last year, the business posted $2.33 earnings per share. As a group, analysts expect that Global Ship Lease will post 9.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Donald Smith & CO. Inc. boosted its position in Global Ship Lease by 62.0% during the 1st quarter. Donald Smith & CO. Inc. now owns 2,533,701 shares of the shipping company’s stock valued at $51,434,000 after buying an additional 969,536 shares during the period. Whitefort Capital Management LP boosted its holdings in shares of Global Ship Lease by 4.2% during the first quarter. Whitefort Capital Management LP now owns 1,977,224 shares of the shipping company’s stock worth $40,138,000 after purchasing an additional 79,743 shares during the period. Acadian Asset Management LLC grew its stake in shares of Global Ship Lease by 3,779.3% in the second quarter. Acadian Asset Management LLC now owns 1,508,898 shares of the shipping company’s stock worth $43,406,000 after purchasing an additional 1,470,002 shares during the last quarter. Marshall Wace LLP increased its holdings in Global Ship Lease by 275.5% during the 2nd quarter. Marshall Wace LLP now owns 1,068,524 shares of the shipping company’s stock valued at $30,763,000 after purchasing an additional 783,963 shares during the period. Finally, Renaissance Technologies LLC raised its position in Global Ship Lease by 97.9% during the 2nd quarter. Renaissance Technologies LLC now owns 557,050 shares of the shipping company’s stock valued at $16,037,000 after purchasing an additional 275,500 shares during the last quarter. 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.