Global Ship Lease (NYSE:GSL) Hits New 52-Week High - Here's Why

Key Points

• Global Ship Lease reached a new 52-week high of $43.92, with the stock last trading near $43.29 and a market capitalization of approximately $1.56 billion.
• Analyst sentiment is broadly positive, with an average rating of “Buy” and an average price target of $46.50; Jefferies initiated coverage with a $45 target.
• The company exceeded quarterly expectations, reporting $2.56 in EPS and $198.08 million in revenue, while declaring a $0.625 quarterly dividend—an annualized $2.50 payout and approximately 5.8% yield.

Global Ship Lease, Inc. (NYSE:GSL - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $43.92 and last traded at $43.2860, with a volume of 11685 shares. The stock had previously closed at $43.60.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Global Ship Lease in a research report on Friday, July 17th. Zacks Research upgraded shares of Global Ship Lease from a "strong sell" rating to a "hold" rating in a research note on Monday. Fearnley Fonds raised shares of Global Ship Lease from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 30th. Jefferies Financial Group began coverage on shares of Global Ship Lease in a research note on Friday, April 24th. They issued a "buy" rating and a $45.00 price target for the company. Finally, Wall Street Zen upgraded shares of Global Ship Lease from a "hold" rating to a "buy" rating in a report on Saturday, May 30th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $46.50.

Global Ship Lease Stock Performance

The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 4.12 and a beta of 0.90. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.26 and a quick ratio of 2.21. The stock has a 50 day simple moving average of $39.24 and a two-hundred day simple moving average of $38.71.

Global Ship Lease (NYSE:GSL - Get Free Report) last released its quarterly earnings data on Friday, May 22nd. The shipping company reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.16. Global Ship Lease had a return on equity of 21.11% and a net margin of 50.01%.The business had revenue of $198.08 million during the quarter, compared to analysts' expectations of $182.87 million. The firm's quarterly revenue was up 3.7% on a year-over-year basis. As a group, analysts anticipate that Global Ship Lease, Inc. will post 9.5 earnings per share for the current year.

Global Ship Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Friday, May 22nd were issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend was Friday, May 22nd. Global Ship Lease's dividend payout ratio is 23.74%.

Hedge Funds Weigh In On Global Ship Lease

Hedge funds have recently added to or reduced their stakes in the stock. Triumph Capital Management acquired a new stake in Global Ship Lease during the third quarter worth approximately $25,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Global Ship Lease in the 4th quarter valued at $29,000. Hilton Head Capital Partners LLC purchased a new position in shares of Global Ship Lease in the 4th quarter valued at $35,000. SHP Wealth Management acquired a new stake in Global Ship Lease during the 4th quarter worth $35,000. Finally, LOM Asset Management Ltd purchased a new stake in Global Ship Lease in the fourth quarter valued at $49,000. 50.08% of the stock is currently owned by hedge funds and other institutional investors.

Global Ship Lease Company Profile

Global Ship Lease NYSE: GSL is a Bermuda-based containership charter owner focused on acquiring, owning and leasing modern, fuel-efficient vessels to major liner operators. Founded in 2011 and listed on the New York Stock Exchange the same year, the company’s fleet primarily comprises post-Panamax containerships designed to serve the high-volume Asia–Europe and transpacific shipping lanes. By specializing in long-term charter agreements, Global Ship Lease aims to maintain stable revenue streams and minimize spot-market volatility.

The company’s business model centers on negotiating multi-year time charters with leading global shipping lines.

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