Global Ship Lease (NYSE:GSL) Reaches New 12-Month High - Here's What Happened

Key Points

• Global Ship Lease hit a new 52-week high of $42.78, reflecting a recent rally as the stock traded about 1.8% higher on the day.
• Analyst sentiment is mixed but generally positive: the stock has a Moderate Buy consensus and a consensus target price of $46.50, though one recent downgrade came from Zacks Research.
• The company reported better-than-expected quarterly results, with EPS of $2.56 versus $2.40 expected and revenue of $198.08 million, and it also pays a quarterly dividend that yields about 5.8%.

Global Ship Lease, Inc. (NYSE:GSL - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $42.78 and last traded at $42.70, with a volume of 115581 shares traded. The stock had previously closed at $42.06.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wall Street Zen raised shares of Global Ship Lease from a "hold" rating to a "buy" rating in a research note on Saturday, May 30th. Fearnley Fonds upgraded shares of Global Ship Lease from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 30th. Zacks Research downgraded shares of Global Ship Lease from a "hold" rating to a "strong sell" rating in a report on Wednesday, June 3rd. Weiss Ratings restated a "buy (b)" rating on shares of Global Ship Lease in a research report on Friday, July 17th. Finally, Jefferies Financial Group began coverage on shares of Global Ship Lease in a research report on Friday, April 24th. They set a "buy" rating and a $45.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $46.50.

Global Ship Lease Trading Up 1.8%

The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.21 and a current ratio of 2.26. The stock has a market cap of $1.54 billion, a P/E ratio of 4.07 and a beta of 0.90. The stock has a 50-day moving average price of $39.05 and a 200-day moving average price of $38.48.

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

Global Ship Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Friday, May 22nd were given a dividend of $0.625 per share. The ex-dividend date was Friday, May 22nd. This represents a $2.50 annualized dividend and a dividend yield of 5.8%. Global Ship Lease's dividend payout ratio (DPR) is 23.74%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Triumph Capital Management purchased a new position in Global Ship Lease in the 3rd quarter worth approximately $25,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Global Ship Lease during the fourth quarter valued at approximately $29,000. Hilton Head Capital Partners LLC bought a new position in shares of Global Ship Lease in the fourth quarter worth approximately $35,000. SHP Wealth Management bought a new position in shares of Global Ship Lease in the fourth quarter worth approximately $35,000. Finally, LOM Asset Management Ltd purchased a new position in shares of Global Ship Lease in the fourth quarter worth $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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