Global Ship Leasing (NYSE:GSL) Upgrade at StockNews.com

StockNews.com updated the quotes of Global Ship Leasing (NYSE:GSL – Free Report) from a buy rating to a strong-buy rating in a research report sent to investors on Monday morning.

GSL has been the subject of several other reports. Clarkson Capital upgraded Global Ship Lease from a neutral rating to a buy rating in a research report on Thursday, August 8th. Jefferies Financial Group reissued a buy rating and issued a $29.00 target price on shares of Global Ship Lease in a research note on Monday, August 5th.

Check out our latest research report on GSL

Global performance of ship leasing stocks

Shares of GSL stock opened at $27.06 on Monday. The firm has a market cap of $952.19 million, a PE ratio of 3.06 and a beta of 1.64. The stock has a fifty day moving average price of $27.31 and a two hundred day moving average price of $24.04. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24, and a quick ratio of 1.18. Global Ship Lease has a 1 year low of $16.80 and a 1 year high of $30.32.

Global Ship Lease (NYSE:GSL – Get Your Free Report ) last issued its quarterly earnings data on Monday, August 5th. The shipping company reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.19. Global Ship Lease had a return on equity of 29.44% and a net margin of 46.30%. The company had revenue of $175.00 million for the quarter, compared to analyst estimates of $172.07 million. During the same period in the previous year, the company posted EPS of $2.09. On average, equities research analysts forecast that Global Ship Lease will post 9.52 EPS for the current year.

Global chartering of vessels increases dividends

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Friday, August 23rd will be given a $0.45 dividend. This represents a dividend of $1.80 on an annualized basis and a dividend yield of 6.65%. The ex-dividend date of this dividend is Friday, August 23. This is a positive change from Global Ship Lease’s previous quarterly dividend of $0.38. Global Ship Lease’s payout rate is 16.95%.

Institutional inputs and outputs

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Donald Smith & Co. Inc. increased its position in Global Ship Lease by 62.0% in the first quarter. Donald Smith & Co. Inc. now owns 2,533,701 shares of the shipping company’s stock worth $51,434,000 after purchasing an additional 969,536 shares in the last quarter. Whitefort Capital Management LP increased its position in Global Ship Lease by 4.2% in the first quarter. Whitefort Capital Management LP now owns 1,977,224 shares of the shipping company’s stock valued at $40,138,000 after buying an additional 79,743 shares during the last quarter. Acadian Asset Management LLC raised its position in Global Ship Lease by 3,779.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,508,898 shares of the shipping company’s stock worth $43,406,000 after which bought an additional 1,470,002 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in Global Ship Lease in the 4th quarter valued at approximately $21,588,000. Finally, Marshall Wace LLP raised its position in Global Ship Lease by 275.5% during the second quarter. Marshall Wace LLP now owns 1,068,524 shares of the shipping company’s stock valued at $30,763,000 after buying an additional 783,963 shares in the last quarter. Institutional investors own 50.08% of the company’s shares.

About Global Ship Lease

(Get a free report)

Global Ship Lease, Inc, together with its subsidiaries, engages in the ownership and lease of container ships on fixed-rate charters to container shipping companies worldwide. As of 11 March 2024, it owned 68 medium and smaller container ships ranging from 2,207 to 11,040 twenty-foot equivalent units (TEU), with a total capacity of 375,406 TEU.

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