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

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

A number of other equities analysts also recently commented on the stock. StockNews.com downgraded shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 25th. Clarkson Capital upgraded Global Ship Lease from a “neutral” rating to a “buy” rating in a report on Thursday, August 8th.

Global Ship Lease Stock Down 2.5 %

Global Ship Lease stock opened at $23.82 on Monday. The firm has a market capitalization of $878.01 million, a P/E ratio of 2.66 and a beta of 1.62. The stock’s fifty day simple moving average is $24.54 and its 200-day simple moving average is $25.94. Global Ship Lease has a twelve month low of $17.47 and a twelve month high of $30.32. The company has a current ratio of 1.42, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40.

Global Ship Lease (NYSE:GSL) last released its earnings results on Monday, November 11th. The shipping company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.02. Global Ship Lease had a net margin of 46.38% and a return on equity of 28.59%. The firm had revenue of $174.06 million for the quarter, compared to analyst estimates of $175.83 million. During the same period in the prior year, the firm earned $2.33 earnings per share. As a group, equities analysts expect that Global Ship Lease will post 9.85 earnings per share for the current fiscal year.

Global Ship Lease Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Friday, November 22nd will be given a $0.45 dividend. The ex-dividend date is Friday, November 22nd. This represents a $1.80 dividend on an annualized basis and a yield of 7.56%. Global Ship Lease’s dividend payout ratio (DPR) is presently 16.61%.

Hedge Funds Weigh In On Global Ship Lease

Several hedge funds have recently made changes to their positions in GSL. Signaturefd LLC boosted its position in shares of Global Ship Lease by 23.3% in the 2nd quarter. Signaturefd LLC now owns 2,526 shares of the shipping company’s stock valued at $73,000 after purchasing an additional 477 shares during the period. Simplicity Wealth LLC lifted its stake in Global Ship Lease by 3.2% in the third quarter. Simplicity Wealth LLC now owns 16,236 shares of the shipping company’s stock valued at $433,000 after buying an additional 505 shares during the last quarter. Moors & Cabot Inc. boosted its holdings in shares of Global Ship Lease by 2.2% in the third quarter. Moors & Cabot Inc. now owns 33,150 shares of the shipping company’s stock valued at $883,000 after acquiring an additional 700 shares during the period. Tidal Investments LLC grew its position in shares of Global Ship Lease by 14.8% during the first quarter. Tidal Investments LLC now owns 15,832 shares of the shipping company’s stock worth $321,000 after acquiring an additional 2,038 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. increased its holdings in shares of Global Ship Lease by 6.5% in the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 37,987 shares of the shipping company’s stock valued at $1,094,000 after acquiring an additional 2,313 shares during the period. Hedge funds and other 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.