Global Ship Lease (NYSE:GSL) Raised to “Strong-Buy” at StockNews.com

Global Ship Lease (NYSE:GSL) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Wednesday.

Separately, Jefferies Financial Group increased their price objective on shares of Global Ship Lease from $26.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, May 16th.

Global Ship Lease Price Performance

Shares of GSL traded down $0.71 during trading hours on Wednesday, hitting $29.41. The stock had a trading volume of 459,341 shares, compared to its average volume of 695,072. The company’s fifty day moving average is $26.29 and its two-hundred day moving average is $22.41. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 1.18. Global Ship Lease has a 52 week low of $16.80 and a 52 week high of $30.32. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 3.32 and a beta of 1.64.

Global Ship Lease (NYSE:GSL) last issued its quarterly earnings data on Thursday, May 16th. The shipping company reported $2.53 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.19. Global Ship Lease had a net margin of 46.30% and a return on equity of 29.44%. The firm had revenue of $179.56 million for the quarter, compared to analyst estimates of $170.70 million. On average, analysts anticipate that Global Ship Lease will post 9.61 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Virtu Financial LLC bought a new position in shares of Global Ship Lease in the 1st quarter valued at about $324,000. Whitefort Capital Management LP raised its position in shares of Global Ship Lease by 4.2% in the 1st quarter. Whitefort Capital Management LP now owns 1,977,224 shares of the shipping company’s stock valued at $40,138,000 after acquiring an additional 79,743 shares during the period. Tidal Investments LLC raised its position in shares of Global Ship Lease by 14.8% in the 1st quarter. Tidal Investments LLC now owns 15,832 shares of the shipping company’s stock valued at $321,000 after acquiring an additional 2,038 shares during the period. MQS Management LLC acquired a new stake in shares of Global Ship Lease in the 1st quarter valued at approximately $253,000. Finally, Donald Smith & CO. Inc. raised its position in shares of Global Ship Lease by 62.0% in the 1st quarter. Donald Smith & CO. Inc. now owns 2,533,701 shares of the shipping company’s stock valued at $51,434,000 after acquiring an additional 969,536 shares during the period. Institutional investors 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.