ValuEngine Lowers Global Ship Lease (NYSE:GSL) to Strong Sell

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ValuEngine lowered shares of Global Ship Lease (NYSE:GSL) from a sell rating to a strong sell rating in a research note issued to investors on Tuesday, ValuEngine reports.

Separately, Zacks Investment Research upgraded shares of Global Ship Lease from a hold rating to a strong-buy rating and set a $7.75 target price on the stock in a research note on Monday, June 3rd.

Shares of NYSE:GSL opened at $7.80 on Tuesday. Global Ship Lease has a 52 week low of $4.00 and a 52 week high of $11.20. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.90 and a current ratio of 0.96. The company’s fifty day moving average is $6.95 and its 200-day moving average is $6.11. The company has a market capitalization of $67.51 million, a PE ratio of 4.41 and a beta of 0.96.

Global Ship Lease (NYSE:GSL) last issued its earnings results on Thursday, August 1st. The shipping company reported $0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.19). Global Ship Lease had a negative net margin of 22.25% and a positive return on equity of 8.60%. The firm had revenue of $63.09 million during the quarter.

Several large investors have recently modified their holdings of GSL. Deutsche Bank AG acquired a new stake in shares of Global Ship Lease in the 4th quarter valued at $186,000. Renaissance Technologies LLC raised its holdings in shares of Global Ship Lease by 11.8% in the second quarter. Renaissance Technologies LLC now owns 252,975 shares of the shipping company’s stock valued at $1,866,000 after buying an additional 26,750 shares during the last quarter. Clear Harbor Asset Management LLC raised its holdings in shares of Global Ship Lease by 131.0% in the second quarter. Clear Harbor Asset Management LLC now owns 40,170 shares of the shipping company’s stock valued at $296,000 after buying an additional 22,781 shares during the last quarter. Finally, BlackRock Inc. bought a new position in shares of Global Ship Lease in the second quarter valued at about $110,000. Institutional investors own 4.71% of the company’s stock.

Global Ship Lease Company Profile

Global Ship Lease, Inc owns and charters containerships of various sizes under fixed-rate charters to container shipping companies. As of December 31, 2018, it owned 38 vessels with a total capacity of 200,615 twenty-foot equivalent units. The company is based in London, the United Kingdom.

Further Reading: What can cause a stock to outperform?

To view ValuEngine’s full report, visit ValuEngine’s official website.

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