Global Ship Lease (NYSE:GSL) Lowered to Neutral Rating by Clarkson Capital

Clarkson Capital lowered shares of Global Ship Lease (NYSE:GSL) from a buy rating to a neutral rating in a research report sent to investors on Thursday, Marketbeat.com reports. The brokerage currently has $27.00 target price on the shipping company’s stock.

Other equities research analysts have also recently issued research reports about the company. Jefferies Financial Group restated a “buy” rating and set a $29.00 price target on shares of Global Ship Lease in a research note on Monday. StockNews.com lowered Global Ship Lease from a “strong-buy” rating to a “buy” rating in a report on Friday, October 25th.

Global Ship Lease Stock Down 0.7 %

GSL traded down $0.16 on Thursday, reaching $23.66. The company’s stock had a trading volume of 233,181 shares, compared to its average volume of 557,745. The company has a quick ratio of 1.36, a current ratio of 1.64 and a debt-to-equity ratio of 0.38. Global Ship Lease has a fifty-two week low of $17.47 and a fifty-two week high of $30.32. The stock has a 50 day moving average of $24.54 and a two-hundred day moving average of $25.93. The company has a market capitalization of $872.11 million, a price-to-earnings ratio of 2.61 and a beta of 1.62.

Global Ship Lease (NYSE:GSL) last posted its earnings results on Monday, November 11th. The shipping company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.02. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. The firm had revenue of $174.06 million for the quarter, compared to the consensus estimate of $175.83 million. During the same period last year, the firm posted $2.33 EPS. As a group, analysts forecast that Global Ship Lease will post 9.85 EPS for the current fiscal year.

Global Ship Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Friday, November 22nd will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.80 dividend on an annualized basis and a yield of 7.61%. Global Ship Lease’s dividend payout ratio is currently 16.61%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its holdings in shares of Global Ship Lease by 1.2% in the 3rd quarter. State Street Corp now owns 276,415 shares of the shipping company’s stock worth $7,366,000 after acquiring an additional 3,346 shares during the period. Quarry LP raised its stake in Global Ship Lease by 75.0% during the 3rd quarter. Quarry LP now owns 3,495 shares of the shipping company’s stock valued at $93,000 after acquiring an additional 1,498 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Global Ship Lease during the 3rd quarter worth $712,000. Janus Henderson Group PLC grew its stake in shares of Global Ship Lease by 5.7% in the third quarter. Janus Henderson Group PLC now owns 46,179 shares of the shipping company’s stock worth $1,231,000 after purchasing an additional 2,478 shares in the last quarter. Finally, Centiva Capital LP increased its holdings in shares of Global Ship Lease by 87.7% during the third quarter. Centiva Capital LP now owns 26,447 shares of the shipping company’s stock valued at $705,000 after purchasing an additional 12,354 shares during the period. Institutional investors and hedge funds own 50.08% of the company’s stock.

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.