Global Ship Lease, Inc. (NYSE:GSL) Stock Has Average Target Price of $51.00

Shares of Global Ship Lease, Inc. (NYSE:GSL - Get Free Report) have earned an average recommendation of "Buy" from the five analysts that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $51.00.

Several equities research analysts have issued reports on the stock. Zacks Research raised shares of Global Ship Lease from a "strong sell" rating to a "hold" rating in a research note on Monday, July 27th. Wall Street Zen lowered Global Ship Lease from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. B. Riley Financial lifted their target price on Global Ship Lease from $48.00 to $52.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Jefferies Financial Group increased their price objective on shares of Global Ship Lease from $45.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Global Ship Lease in a report on Thursday.

Global Ship Lease Price Performance

Shares of GSL traded down $0.78 on Friday, reaching $41.23. The stock had a trading volume of 314,135 shares, compared to its average volume of 336,330. Global Ship Lease has a twelve month low of $27.81 and a twelve month high of $46.57. The firm has a market capitalization of $1.48 billion, a PE ratio of 3.96 and a beta of 0.98. The firm has a 50-day moving average of $44.40 and a 200 day moving average of $41.32. The company has a quick ratio of 2.06, a current ratio of 2.13 and a debt-to-equity ratio of 0.27.

Global Ship Lease (NYSE:GSL - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The shipping company reported $2.48 EPS for the quarter, topping the consensus estimate of $2.42 by $0.06. Global Ship Lease had a net margin of 49.10% and a return on equity of 19.92%. The business had revenue of $198.69 million for the quarter, compared to analyst estimates of $186.85 million. During the same period in the previous year, the firm earned $2.67 EPS. The business's revenue for the quarter was up 3.9% compared to the same quarter last year. Sell-side analysts expect that Global Ship Lease will post 9.62 EPS for the current year.

Global Ship Lease Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Friday, August 21st were paid a dividend of $0.6250 per share. This represents a $2.50 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend was Friday, August 21st. Global Ship Lease's dividend payout ratio (DPR) is presently 24.04%.

Insider Buying and Selling at Global Ship Lease

In other news, Director Ulrike Helfer sold 4,000 shares of Global Ship Lease stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $44.82, for a total value of $179,280.00. Following the transaction, the director owned 8,503 shares of the company's stock, valued at $381,104.46. The trade was a 31.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Anastasios Psaropoulos sold 48,330 shares of the firm's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $45.02, for a total value of $2,175,816.60. Following the sale, the chief financial officer directly owned 68,698 shares of the company's stock, valued at approximately $3,092,783.96. This represents a 41.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 91,692 shares of company stock worth $4,104,852. Company insiders own 7.40% of the company's stock.

Institutional Trading of Global Ship Lease

A number of institutional investors have recently bought and sold shares of GSL. NewEdge Advisors LLC grew its stake in shares of Global Ship Lease by 1.4% in the 1st quarter. NewEdge Advisors LLC now owns 21,269 shares of the shipping company's stock valued at $792,000 after buying an additional 296 shares in the last quarter. Corient Private Wealth LP lifted its stake in shares of Global Ship Lease by 2.1% in the second quarter. Corient Private Wealth LP now owns 15,409 shares of the shipping company's stock valued at $579,000 after buying an additional 320 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Global Ship Lease by 49.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,579 shares of the shipping company's stock worth $59,000 after purchasing an additional 522 shares in the last quarter. SHP Wealth Management bought a new position in shares of Global Ship Lease during the 4th quarter worth about $35,000. Finally, Parvin Asset Management LLC grew its position in Global Ship Lease by 11.4% in the first quarter. Parvin Asset Management LLC now owns 19,905 shares of the shipping company's stock valued at $741,000 after acquiring an additional 2,035 shares during the period. Institutional investors and hedge funds own 50.08% of the company's stock.

About Global Ship Lease

Global Ship Lease, Inc NYSE: GSL is a containership owner and charterer that provides maritime transportation capacity to liner companies. The company owns and manages a fleet of container vessels designed to transport manufactured goods, consumer products, industrial materials and other containerized cargo across international trade routes.

Global Ship Lease generally employs time-charter arrangements, under which its vessels are leased to container shipping companies for specified periods.

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