Jefferies Financial Group Forecasts Strong Price Appreciation for Global Ship Lease (NYSE:GSL) Stock

Global Ship Lease (NYSE:GSL) had its price target upped by Jefferies Financial Group from $28.00 to $30.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the shipping company’s stock. Jefferies Financial Group’s price target points to a potential upside of 14.32% from the stock’s current price.

Other analysts also recently issued reports about the company. StockNews.com downgraded Global Ship Lease from a “buy” rating to a “hold” rating in a research report on Wednesday, May 14th. Clarkson Capital raised Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th.

Global Ship Lease Stock Up 4.5%

NYSE:GSL traded up $1.13 on Monday, hitting $26.24. The stock had a trading volume of 696,550 shares, compared to its average volume of 424,605. The business’s fifty day moving average is $21.79 and its 200 day moving average is $22.11. The company has a market cap of $930.16 million, a PE ratio of 2.91 and a beta of 1.10. The company has a quick ratio of 1.58, a current ratio of 1.64 and a debt-to-equity ratio of 0.38. Global Ship Lease has a 52 week low of $17.73 and a 52 week high of $30.32.

Global Ship Lease (NYSE:GSL) last issued its quarterly earnings data on Monday, May 19th. The shipping company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.27 by $0.38. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. During the same period in the prior year, the firm earned $2.53 earnings per share. On average, equities research analysts expect that Global Ship Lease will post 9.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Global Ship Lease

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GSL. SBI Securities Co. Ltd. lifted its holdings in shares of Global Ship Lease by 41.9% during the 1st quarter. SBI Securities Co. Ltd. now owns 2,430 shares of the shipping company’s stock valued at $56,000 after buying an additional 717 shares during the period. Isthmus Partners LLC lifted its holdings in shares of Global Ship Lease by 0.7% during the 1st quarter. Isthmus Partners LLC now owns 113,625 shares of the shipping company’s stock valued at $2,596,000 after buying an additional 793 shares during the period. WealthCollab LLC increased its stake in shares of Global Ship Lease by 64.1% in the 4th quarter. WealthCollab LLC now owns 2,615 shares of the shipping company’s stock worth $57,000 after purchasing an additional 1,021 shares in the last quarter. SVB Wealth LLC purchased a new stake in shares of Global Ship Lease in the 1st quarter worth $33,000. Finally, CIBC Private Wealth Group LLC increased its stake in shares of Global Ship Lease by 6,856.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,600 shares of the shipping company’s stock worth $36,000 after purchasing an additional 1,577 shares in the last quarter. 50.08% of the stock is 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.