Global Ship Lease (NYSE:GSL) Downgraded 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 analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

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

Global Ship Lease Stock Performance

GSL opened at $29.01 on Friday. The stock has a market cap of $1.03 billion, a P/E ratio of 2.74 and a beta of 1.19. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.77 and a quick ratio of 1.71. The stock's 50 day simple moving average is $26.41 and its 200 day simple moving average is $23.47. Global Ship Lease has a 1-year low of $17.73 and a 1-year high of $29.23.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Donald Smith & CO. Inc. lifted its stake in shares of Global Ship Lease by 2.6% during the 1st quarter. Donald Smith & CO. Inc. now owns 3,220,085 shares of the shipping company's stock worth $73,579,000 after purchasing an additional 80,615 shares during the period. Kingstone Capital Partners Texas LLC purchased a new position in shares of Global Ship Lease during the 2nd quarter worth $68,680,000. Renaissance Technologies LLC lifted its stake in shares of Global Ship Lease by 34.9% during the 4th quarter. Renaissance Technologies LLC now owns 629,750 shares of the shipping company's stock worth $13,747,000 after purchasing an additional 162,900 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Global Ship Lease during the 1st quarter worth $13,304,000. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of Global Ship Lease by 1.9% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 536,747 shares of the shipping company's stock worth $14,122,000 after purchasing an additional 9,978 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.

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