Global Ship Lease (NYSE:GSL) Earns Buy Rating from Jefferies Financial Group

Jefferies Financial Group reissued their buy rating on shares of Global Ship Lease (NYSE:GSL) in a research note issued to investors on Monday morning, Benzinga reports. They currently have a $29.00 price target on the shipping company’s stock.

Separately, StockNews.com lowered shares of Global Ship Lease from a strong-buy rating to a buy rating in a research note on Tuesday, July 23rd.

Global Ship Lease Stock Performance

Shares of Global Ship Lease stock opened at $27.23 on Monday. The stock has a market cap of $957.99 million, a PE ratio of 3.08 and a beta of 1.64. Global Ship Lease has a 12 month low of $16.80 and a 12 month high of $30.32. The company has a quick ratio of 1.18, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $27.56 and a 200-day simple moving average of $23.84.

Global Ship Lease (NYSE:GSL) last announced its quarterly earnings data on Monday, August 5th. The shipping company reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.19. The firm had revenue of $175.00 million during the quarter, compared to analyst estimates of $172.07 million. Global Ship Lease had a return on equity of 29.44% and a net margin of 46.30%. During the same period last year, the company posted $2.09 EPS. On average, sell-side analysts anticipate that Global Ship Lease will post 9.52 EPS for the current fiscal year.

Global Ship Lease Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Friday, August 23rd will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $1.80 dividend on an annualized basis and a yield of 6.61%. This is an increase from Global Ship Lease’s previous quarterly dividend of $0.38. Global Ship Lease’s payout ratio is 16.95%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Signaturefd LLC grew its stake in shares of Global Ship Lease by 23.3% in the 2nd quarter. Signaturefd LLC now owns 2,526 shares of the shipping company’s stock valued at $73,000 after buying an additional 477 shares in the last quarter. Apollon Wealth Management LLC grew its position in Global Ship Lease by 7.9% in the fourth quarter. Apollon Wealth Management LLC now owns 22,189 shares of the shipping company’s stock worth $440,000 after acquiring an additional 1,620 shares in the last quarter. Tidal Investments LLC grew its position in Global Ship Lease by 14.8% in the first quarter. Tidal Investments LLC now owns 15,832 shares of the shipping company’s stock worth $321,000 after acquiring an additional 2,038 shares in the last quarter. Redhawk Wealth Advisors Inc. increased its stake in shares of Global Ship Lease by 6.5% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 37,987 shares of the shipping company’s stock worth $1,094,000 after purchasing an additional 2,313 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Global Ship Lease by 10.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 28,751 shares of the shipping company’s stock valued at $584,000 after purchasing an additional 2,703 shares in the last quarter. 50.08% of the stock is owned by institutional investors and hedge funds.

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.