Global Ship Lease, Inc. (NYSE:GSL - Get Free Report) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $27.60 and last traded at $27.55, with a volume of 129340 shares traded. The stock had previously closed at $27.05.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on GSL. Jefferies Financial Group lifted their target price on Global Ship Lease from $28.00 to $30.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Wall Street Zen raised shares of Global Ship Lease from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Finally, Clarkson Capital lowered shares of Global Ship Lease from a "strong-buy" rating to a "hold" rating and set a $28.00 price target on the stock. in a research report on Thursday, May 22nd.
Read Our Latest Research Report on GSL
Global Ship Lease Stock Up 1.4%
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 firm has a market cap of $971.96 million, a PE ratio of 2.59 and a beta of 1.19. The business has a fifty day moving average price of $24.93 and a two-hundred day moving average price of $22.91.
Global Ship Lease (NYSE:GSL - Get Free Report) last issued its earnings results on Monday, May 19th. The shipping company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.38. The company had revenue of $190.98 million for the quarter, compared to analyst estimates 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 period in the prior year, the firm posted $2.53 EPS. On average, analysts anticipate that Global Ship Lease, Inc. will post 9.74 EPS for the current fiscal year.
Global Ship Lease Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Friday, May 23rd were paid a $0.525 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This is a positive change from Global Ship Lease's previous quarterly dividend of $0.45. This represents a $2.10 dividend on an annualized basis and a yield of 7.66%. Global Ship Lease's dividend payout ratio (DPR) is presently 19.83%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC increased its stake in shares of Global Ship Lease by 6.7% in the second quarter. Parallel Advisors LLC now owns 9,342 shares of the shipping company's stock worth $246,000 after purchasing an additional 584 shares during the period. SBI Securities Co. Ltd. increased its position 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 during the period. Isthmus Partners LLC lifted its holdings in shares of Global Ship Lease by 0.7% during the first 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 during the last quarter. WealthCollab LLC lifted its holdings in shares of Global Ship Lease by 64.1% during the fourth quarter. WealthCollab LLC now owns 2,615 shares of the shipping company's stock worth $57,000 after buying an additional 1,021 shares during the last quarter. Finally, SVB Wealth LLC acquired a new stake in shares of Global Ship Lease in the first quarter worth $33,000. Institutional investors and hedge funds own 50.08% of the company's stock.
Global Ship Lease Company Profile
(
Get Free Report)
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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