Global Ship Lease (NYSE:GSL) Lowered to "Hold" Rating by Wall Street Zen

Key Points

• Global Ship Lease has been downgraded from a "buy" rating to a "hold" rating by analysts at Wall Street Zen, indicating a shift in market sentiment towards the stock's performance.
• Analysts from Clarkson Capital also lowered the company's rating from "strong-buy" to "hold," setting a target price of $28.00 on the stock.
• Despite the downgrade, Global Ship Lease reported strong quarterly earnings, with $2.65 earnings per share, exceeding analysts' estimates and highlighting its robust financial performance.

Global Ship Lease (NYSE:GSL - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

A number of other equities analysts also recently weighed in on the stock. Jefferies Financial Group lifted their target price on shares of Global Ship Lease from $28.00 to $30.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Clarkson Capital cut shares of Global Ship Lease from a "strong-buy" rating to a "hold" rating and set a $28.00 price target for the company. in a report on Thursday, May 22nd.

Global Ship Lease Price Performance

NYSE:GSL traded down $0.09 on Friday, hitting $29.01. The company had a trading volume of 264,241 shares, compared to its average volume of 292,438. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 2.74 and a beta of 1.19. The company has a current ratio of 1.77, a quick ratio of 1.71 and a debt-to-equity ratio of 0.40. The firm has a 50 day moving average of $26.53 and a two-hundred day moving average of $23.57. Global Ship Lease has a 52 week low of $17.73 and a 52 week high of $29.23.

Global Ship Lease (NYSE:GSL - Get Free Report) last announced its quarterly earnings results on Monday, May 19th. The shipping company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.38. Global Ship Lease had a net margin of 53.31% and a return on equity of 25.56%. The firm had revenue of $190.98 million during the quarter, compared to analysts' expectations of $171.73 million. During the same period in the prior year, the company posted $2.53 EPS. On average, research analysts anticipate that Global Ship Lease will post 9.74 earnings per share for the current year.

Hedge Funds Weigh In On Global Ship Lease

Several hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC grew its stake in Global Ship Lease by 6.7% during the second quarter. Parallel Advisors LLC now owns 9,342 shares of the shipping company's stock valued at $246,000 after acquiring an additional 584 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in Global Ship Lease by 41.9% in the 1st quarter. SBI Securities Co. Ltd. now owns 2,430 shares of the shipping company's stock worth $56,000 after buying an additional 717 shares in the last quarter. Isthmus Partners LLC grew its stake in Global Ship Lease by 0.7% in the 1st quarter. Isthmus Partners LLC now owns 113,625 shares of the shipping company's stock worth $2,596,000 after buying an additional 793 shares in the last quarter. Highline Wealth Partners LLC grew its stake in Global Ship Lease by 11.2% in the 2nd quarter. Highline Wealth Partners LLC now owns 9,450 shares of the shipping company's stock worth $249,000 after buying an additional 950 shares in the last quarter. Finally, Farther Finance Advisors LLC purchased a new position in Global Ship Lease in the 2nd quarter worth approximately $26,000. 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.