Global Ship Lease’s (GSL) Buy Rating Reaffirmed at Jefferies Financial Group

Jefferies Financial Group reiterated their buy rating on shares of Global Ship Lease (NYSE:GSL) in a research note released on Monday,Benzinga reports. Jefferies Financial Group currently has a $29.00 target price on the shipping company’s stock.

A number of other equities research analysts have also weighed in on the company. Clarkson Capital upgraded Global Ship Lease from a “neutral” rating to a “buy” rating in a research report on Thursday, August 8th. StockNews.com lowered Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 25th.

Global Ship Lease Stock Performance

GSL stock opened at $23.44 on Monday. The business’s fifty day moving average is $24.55 and its 200-day moving average is $25.95. Global Ship Lease has a twelve month low of $17.00 and a twelve month high of $30.32. The company has a market cap of $864.05 million, a P/E ratio of 2.54 and a beta of 1.62. The company has a quick ratio of 1.36, a current ratio of 1.42 and a debt-to-equity ratio of 0.40.

Global Ship Lease (NYSE:GSL) last issued its earnings results on Monday, November 11th. The shipping company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.02. Global Ship Lease had a net margin of 46.90% and a return on equity of 28.92%. During the same period in the previous year, the business posted $2.33 EPS. Equities research analysts forecast that Global Ship Lease will post 9.85 EPS for the current year.

Global Ship Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.80 annualized dividend and a dividend yield of 7.68%. Global Ship Lease’s payout ratio is 16.39%.

Institutional Trading of Global Ship Lease

A number of hedge funds and other institutional investors have recently made changes to their positions in GSL. SG Americas Securities LLC purchased a new position in Global Ship Lease in the 2nd quarter worth approximately $2,130,000. Marshall Wace LLP raised its stake in shares of 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 acquiring an additional 783,963 shares during the last quarter. Sei Investments Co. grew its stake in shares of Global Ship Lease by 780.1% in the second quarter. Sei Investments Co. now owns 103,658 shares of the shipping company’s stock worth $2,984,000 after purchasing an additional 91,880 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Global Ship Lease by 126.1% during the third quarter. Janney Montgomery Scott LLC now owns 90,840 shares of the shipping company’s stock valued at $2,421,000 after buying an additional 50,660 shares during the period. Finally, Harbor Capital Advisors Inc. raised its stake in Global Ship Lease by 147.1% in the third quarter. Harbor Capital Advisors Inc. now owns 506,085 shares of the shipping company’s stock worth $13,487,000 after buying an additional 301,280 shares in the last quarter. 50.08% of the stock is currently owned by institutional investors.

Global Ship Lease Company Profile

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.