Global Ship Lease (NYSE:GSL) Reaches New 52-Week Low – What’s Next?

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

Analyst Upgrades and Downgrades

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

Global Ship Lease Stock Down 7.1 %

The company has a current ratio of 1.64, a quick ratio of 1.58 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $686.96 million, a P/E ratio of 2.15 and a beta of 1.47. The stock’s 50-day simple moving average is $22.47 and its 200-day simple moving average is $22.99.

Global Ship Lease (NYSE:GSL) last released its earnings results on Wednesday, March 5th. The shipping company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 27.88% and a net margin of 46.38%. As a group, research analysts predict that Global Ship Lease, Inc. will post 9.74 earnings per share for the current fiscal year.

Global Ship Lease Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 9.29%. The ex-dividend date was Monday, February 24th. Global Ship Lease’s payout ratio is 18.50%.

Hedge Funds Weigh In On Global Ship Lease

Several institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. purchased a new position in Global Ship Lease in the third quarter valued at about $712,000. DGS Capital Management LLC lifted its position in shares of Global Ship Lease by 125.1% during the 4th quarter. DGS Capital Management LLC now owns 46,158 shares of the shipping company’s stock valued at $1,008,000 after buying an additional 25,651 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Global Ship Lease during the 4th quarter worth $37,000. Public Employees Retirement System of Ohio purchased a new stake in Global Ship Lease in the 3rd quarter worth about $1,441,000. Finally, JPMorgan Chase & Co. raised its stake in Global Ship Lease by 2.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 391,053 shares of the shipping company’s stock valued at $10,422,000 after acquiring an additional 8,890 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.