Global Ship Lease (NYSE:GSL) Sets New 1-Year Low – Here’s Why

Shares of Global Ship Lease, Inc. (NYSE:GSL) hit a new 52-week low during trading on Friday . The stock traded as low as $20.50 and last traded at $19.71, with a volume of 9442 shares. The stock had previously closed at $20.87.

Wall Street Analyst Weigh In

GSL has been the subject of several research reports. Jefferies Financial Group reissued a “buy” rating and set a $29.00 price objective on shares of Global Ship Lease in a report on Wednesday, March 5th. StockNews.com lowered Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 7th. Finally, Clarkson Capital upgraded shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th.

Global Ship Lease Trading Down 7.7 %

The stock has a fifty day moving average of $22.44 and a 200-day moving average of $22.94. The company has a market cap of $682.71 million, a PE ratio of 2.13 and a beta of 1.21. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.58 and a current ratio of 1.64.

Global Ship Lease (NYSE:GSL) last announced its quarterly earnings data on Wednesday, March 5th. The shipping company reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.25. The company had revenue of $182.43 million during the quarter, compared to analyst estimates of $170.71 million. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. Sell-side analysts anticipate that Global Ship Lease, Inc. will post 9.74 EPS for the current fiscal year.

Global Ship Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.80 annualized dividend and a yield of 9.35%. Global Ship Lease’s payout ratio is currently 18.50%.

Institutional Investors Weigh In On Global Ship Lease

A number of institutional investors and hedge funds have recently bought and sold shares of GSL. Point72 Asset Management L.P. bought a new stake in shares of Global Ship Lease in the third quarter valued at about $712,000. DGS Capital Management LLC raised its stake in Global Ship Lease by 125.1% in the fourth quarter. DGS Capital Management LLC now owns 46,158 shares of the shipping company’s stock worth $1,008,000 after buying an additional 25,651 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Global Ship Lease during the fourth quarter worth $37,000. Public Employees Retirement System of Ohio bought a new stake in Global Ship Lease during the 3rd quarter valued at $1,441,000. Finally, JPMorgan Chase & Co. raised its position in shares of Global Ship Lease by 2.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 391,053 shares of the shipping company’s stock worth $10,422,000 after acquiring an additional 8,890 shares in the last quarter. 50.08% of the stock is 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.