Global Ship Lease (NYSE:GSL) Lowered to "Hold" Rating by Clarkson Capital

Global Ship Lease (NYSE:GSL - Get Free Report) was downgraded by stock analysts at Clarkson Capital from a "strong-buy" rating to a "hold" rating in a research report issued on Thursday, Marketbeat.com reports. They currently have a $28.00 price target on the shipping company's stock. Clarkson Capital's target price points to a potential upside of 12.45% from the company's current price.

Other equities research analysts have also recently issued reports about the stock. Wall Street Zen raised shares of Global Ship Lease from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Jefferies Financial Group boosted their price objective on shares of Global Ship Lease from $28.00 to $30.00 and gave the company a "buy" rating in a research report on Monday, May 19th.

Global Ship Lease Trading Up 1.7%

Global Ship Lease stock traded up $0.42 during trading hours on Thursday, hitting $24.90. The company had a trading volume of 197,125 shares, compared to its average volume of 414,974. The firm has a market cap of $882.63 million, a P/E ratio of 2.75 and a beta of 1.10. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.58 and a current ratio of 1.64. Global Ship Lease has a 1 year low of $17.73 and a 1 year high of $30.32. The company has a 50-day moving average price of $22.03 and a two-hundred day moving average price of $22.15.

Global Ship Lease (NYSE:GSL - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $190.98 million during the quarter, compared to analysts' expectations of $171.73 million. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. During the same period in the previous year, the company earned $2.53 EPS. On average, sell-side analysts anticipate that Global Ship Lease will post 9.74 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GSL. SVB Wealth LLC purchased a new position in Global Ship Lease during the 1st quarter valued at about $33,000. CIBC Private Wealth Group LLC increased its position in Global Ship Lease by 6,856.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,600 shares of the shipping company's stock valued at $36,000 after purchasing an additional 1,577 shares during the period. SBI Securities Co. Ltd. purchased a new position in Global Ship Lease during the 4th quarter valued at about $37,000. Steward Partners Investment Advisory LLC purchased a new position in Global Ship Lease during the 4th quarter valued at about $46,000. Finally, R Squared Ltd purchased a new position in Global Ship Lease during the 4th quarter valued at about $50,000. Hedge funds and other institutional investors own 50.08% of the company's stock.

Global Ship Lease Company Profile

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.