Jefferies Financial Group Raises Global Ship Lease (NYSE:GSL) Price Target to $39.00

Global Ship Lease (NYSE:GSL) had its price target raised by analysts at Jefferies Financial Group from $33.00 to $39.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the shipping company’s stock. Jefferies Financial Group’s price target suggests a potential upside of 12.78% from the stock’s current price.

Other research analysts have also issued research reports about the company. Weiss Ratings restated a “buy (b)” rating on shares of Global Ship Lease in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Global Ship Lease from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Finally, Zacks Research raised shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $33.50.

Global Ship Lease Price Performance

Shares of NYSE:GSL traded up $2.90 during trading on Monday, hitting $34.58. 636,824 shares of the company’s stock were exchanged, compared to its average volume of 366,937. The business’s 50-day simple moving average is $30.45 and its 200 day simple moving average is $27.94. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 3.21 and a beta of 1.20. Global Ship Lease has a 52-week low of $17.73 and a 52-week high of $34.73. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.01 and a quick ratio of 1.94.

Global Ship Lease (NYSE:GSL) last announced its quarterly earnings data on Monday, November 10th. The shipping company reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.35. Global Ship Lease had a net margin of 53.09% and a return on equity of 24.81%. The company’s revenue was up 10.7% compared to the same quarter last year. As a group, equities analysts predict that Global Ship Lease will post 9.74 EPS for the current year.

Institutional Trading of Global Ship Lease

A number of institutional investors and hedge funds have recently made changes to their positions in GSL. Donald Smith & CO. Inc. boosted its holdings in shares of Global Ship Lease by 0.6% during the 2nd quarter. Donald Smith & CO. Inc. now owns 3,238,868 shares of the shipping company’s stock worth $85,215,000 after purchasing an additional 18,783 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in Global Ship Lease in the 2nd quarter valued at about $68,680,000. Acadian Asset Management LLC raised its stake in Global Ship Lease by 7.3% in the second quarter. Acadian Asset Management LLC now owns 1,305,109 shares of the shipping company’s stock valued at $34,314,000 after buying an additional 89,258 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Global Ship Lease by 5.3% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 613,287 shares of the shipping company’s stock worth $16,136,000 after acquiring an additional 31,047 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Global Ship Lease by 1.9% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 536,747 shares of the shipping company’s stock valued at $14,122,000 after acquiring an additional 9,978 shares during the last quarter. 50.08% of the stock is currently owned by hedge funds and other 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.