Global Ship Lease (NYSE:GSL) Trading Down 3.3% – Time to Sell?

Global Ship Lease, Inc. (NYSE:GSL) traded down 3.3% during trading on Friday . The stock traded as low as $25.08 and last traded at $25.12. 99,169 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 590,090 shares. The stock had previously closed at $25.98.

Analyst Ratings Changes

Several research analysts have commented on the company. Clarkson Capital raised Global Ship Lease from a “neutral” rating to a “buy” rating in a research report on Thursday, August 8th. StockNews.com raised Global Ship Lease from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 11th. Finally, Jefferies Financial Group restated a “buy” rating and set a $29.00 price objective on shares of Global Ship Lease in a research report on Monday, August 5th.

Global Ship Lease Trading Down 2.5 %

The firm has a market capitalization of $891.66 million, a P/E ratio of 2.86 and a beta of 1.60. The company has a quick ratio of 1.36, a current ratio of 1.42 and a debt-to-equity ratio of 0.40. The business has a 50-day moving average price of $25.40 and a 200-day moving average price of $25.29.

Global Ship Lease (NYSE:GSL) last released its quarterly earnings data on Monday, August 5th. The shipping company reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.19. The business had revenue of $175.00 million for the quarter, compared to analysts’ expectations of $172.07 million. Global Ship Lease had a return on equity of 28.92% and a net margin of 46.90%. During the same period in the previous year, the business posted $2.09 earnings per share. Analysts anticipate that Global Ship Lease, Inc. will post 9.9 earnings per share for the current year.

Global Ship Lease Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Friday, August 23rd were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, August 23rd. This is a boost from Global Ship Lease’s previous quarterly dividend of $0.38. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.10%. Global Ship Lease’s payout ratio is currently 16.95%.

Institutional Trading of Global Ship Lease

Institutional investors have recently bought and sold shares of the stock. Donald Smith & CO. Inc. boosted its stake in Global Ship Lease by 62.0% in the first quarter. Donald Smith & CO. Inc. now owns 2,533,701 shares of the shipping company’s stock worth $51,434,000 after purchasing an additional 969,536 shares in the last quarter. Whitefort Capital Management LP increased its holdings in Global Ship Lease by 4.2% in the first quarter. Whitefort Capital Management LP now owns 1,977,224 shares of the shipping company’s stock valued at $40,138,000 after purchasing an additional 79,743 shares during the last quarter. Acadian Asset Management LLC increased its holdings in Global Ship Lease by 3,779.3% in the second quarter. Acadian Asset Management LLC now owns 1,508,898 shares of the shipping company’s stock valued at $43,406,000 after purchasing an additional 1,470,002 shares during the last quarter. Marshall Wace LLP increased its holdings in Global Ship Lease by 275.5% in the second quarter. Marshall Wace LLP now owns 1,068,524 shares of the shipping company’s stock valued at $30,763,000 after purchasing an additional 783,963 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Global Ship Lease by 97.9% in the second quarter. Renaissance Technologies LLC now owns 557,050 shares of the shipping company’s stock valued at $16,037,000 after purchasing an additional 275,500 shares during the last quarter. 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.