Global Ship Lease (NYSE:GSL) Rating Lowered to Buy at StockNews.com

Global Ship Lease (NYSE:GSL) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Tuesday.

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

Global Ship Lease Stock Performance

Shares of NYSE GSL opened at $22.40 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.00. The stock’s fifty day moving average price is $20.48 and its two-hundred day moving average price is $19.61. Global Ship Lease has a one year low of $16.80 and a one year high of $22.65. The firm has a market cap of $788.08 million, a price-to-earnings ratio of 2.69 and a beta of 1.50.

Global Ship Lease (NYSE:GSL) last issued 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. Global Ship Lease had a return on equity of 29.87% and a net margin of 45.12%. The firm had revenue of $178.89 million for the quarter, compared to analyst estimates of $171.54 million. During the same period in the prior year, the firm posted $2.14 EPS. On average, equities analysts forecast that Global Ship Lease will post 9.4 EPS for the current year.

Institutional Trading of Global Ship Lease

A number of institutional investors have recently modified their holdings of GSL. Donald Smith & CO. Inc. lifted 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 valued at $31,002,000 after acquiring an additional 1,098,558 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in shares of Global Ship Lease during the 4th quarter valued at $21,588,000. BNP Paribas Financial Markets lifted its position in shares of Global Ship Lease by 287.1% during the 4th quarter. BNP Paribas Financial Markets now owns 94,823 shares of the shipping company’s stock valued at $1,879,000 after acquiring an additional 70,329 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Global Ship Lease during the 4th quarter worth $1,261,000. Finally, ARGA Investment Management LP bought a new stake in shares of Global Ship Lease during the 1st quarter worth $1,227,000. 50.08% of the stock is currently owned by institutional investors.

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.