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

Jefferies Financial Group reaffirmed their buy rating on shares of Global Ship Lease (NYSE:GSL) in a research report released on Wednesday morning,Benzinga reports. They currently have a $29.00 price target on the shipping company’s stock.

Several other equities research analysts have also recently issued reports on the company. Clarkson Capital cut Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 price target for the company. in a research note on Thursday, November 14th. StockNews.com upgraded Global Ship Lease from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 25th.

Global Ship Lease Trading Up 0.6 %

Shares of NYSE:GSL opened at $23.43 on Wednesday. Global Ship Lease has a 12-month low of $19.22 and a 12-month high of $30.32. The stock has a market cap of $863.68 million, a PE ratio of 2.59 and a beta of 1.47. The business has a 50 day moving average of $22.03 and a 200-day moving average of $23.18. The company has a quick ratio of 1.58, a current ratio of 1.64 and a debt-to-equity ratio of 0.38.

Global Ship Lease (NYSE:GSL) last issued its quarterly earnings data on Wednesday, March 5th. The shipping company reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.25. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. The company had revenue of $182.43 million during the quarter, compared to analysts’ expectations of $170.71 million. As a group, equities research analysts forecast that Global Ship Lease will post 9.74 earnings per share for the current year.

Global Ship Lease Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 7.68%. The ex-dividend date of this dividend was Monday, February 24th. Global Ship Lease’s dividend payout ratio (DPR) is currently 18.50%.

Institutional Investors Weigh In On Global Ship Lease

Several institutional investors have recently made changes to their positions in GSL. Janney Montgomery Scott LLC raised its position in 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 purchasing an additional 50,660 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Global Ship Lease during the third quarter valued at approximately $712,000. Foundry Partners LLC raised its position in Global Ship Lease by 45.2% during the third quarter. Foundry Partners LLC now owns 475,956 shares of the shipping company’s stock valued at $12,684,000 after purchasing an additional 148,247 shares in the last quarter. DGS Capital Management LLC raised its position in Global Ship Lease by 125.1% during the fourth quarter. DGS Capital Management LLC now owns 46,158 shares of the shipping company’s stock valued at $1,008,000 after purchasing an additional 25,651 shares in the last quarter. Finally, Moran Wealth Management LLC acquired a new position in Global Ship Lease during the third quarter valued at approximately $2,894,000. 50.08% of the stock is currently owned by institutional investors.

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.