Global Ship Lease (NYSE:GSL) Rating Increased to Strong-Buy at StockNews.com

Global Ship Lease (NYSE:GSL) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday.

Separately, Jefferies Financial Group reaffirmed a “buy” rating and issued a $25.00 target price on shares of Global Ship Lease in a research note on Monday, March 4th.

Global Ship Lease Price Performance

GSL opened at $21.47 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 0.52. Global Ship Lease has a 12 month low of $16.80 and a 12 month high of $21.94. The company has a fifty day simple moving average of $20.34 and a 200 day simple moving average of $19.46. The stock has a market cap of $755.35 million, a P/E ratio of 2.58 and a beta of 1.50.

Global Ship Lease (NYSE:GSL) last released its quarterly earnings data on Monday, March 4th. The shipping company reported $2.49 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.15. The business had revenue of $178.89 million during the quarter, compared to analysts’ expectations of $171.54 million. Global Ship Lease had a net margin of 45.12% and a return on equity of 29.87%. During the same quarter in the prior year, the company earned $2.14 EPS. On average, research analysts expect that Global Ship Lease will post 9.4 EPS for the current year.

Hedge Funds Weigh In On Global Ship Lease

A number of large investors have recently modified their holdings of the business. Whitefort Capital Management LP raised its holdings in Global Ship Lease by 4.1% in the 2nd quarter. Whitefort Capital Management LP now owns 2,058,898 shares of the shipping company’s stock valued at $39,943,000 after acquiring an additional 81,610 shares during the period. Morgan Stanley increased its holdings in shares of Global Ship Lease by 6.0% during the third quarter. Morgan Stanley now owns 2,027,684 shares of the shipping company’s stock worth $37,188,000 after purchasing an additional 115,043 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Global Ship Lease by 7,347.7% during the second quarter. Goldman Sachs Group Inc. now owns 2,017,197 shares of the shipping company’s stock worth $33,324,000 after purchasing an additional 1,990,112 shares during the period. Punch & Associates Investment Management Inc. increased its holdings in shares of Global Ship Lease by 2.0% during the first quarter. Punch & Associates Investment Management Inc. now owns 1,916,621 shares of the shipping company’s stock worth $35,917,000 after purchasing an additional 36,695 shares during the period. Finally, Donald Smith & CO. Inc. boosted its position in shares of Global Ship Lease by 235.9% during the 4th quarter. Donald Smith & CO. Inc. now owns 1,564,165 shares of the shipping company’s stock worth $31,002,000 after acquiring an additional 1,098,558 shares in the last quarter. 50.08% of the stock is currently owned by institutional investors and hedge funds.

Global Ship Lease Company Profile

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.