Global Ship Lease (NYSE:GSL) Reaches New 52-Week High - What's Next?

Shares of Global Ship Lease, Inc. (NYSE:GSL - Get Free Report) reached a new 52-week high during trading on Thursday . The company traded as high as $28.15 and last traded at $27.94, with a volume of 108788 shares. The stock had previously closed at $27.67.

Wall Street Analyst Weigh In

GSL has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Global Ship Lease from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Clarkson Capital lowered shares of Global Ship Lease from a "strong-buy" rating to a "hold" rating and set a $28.00 price objective for the company. in a report on Thursday, May 22nd. Finally, Jefferies Financial Group upped their price target on 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 Stock Up 1.6%

The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.71 and a current ratio of 1.77. The stock's fifty day simple moving average is $25.75 and its two-hundred day simple moving average is $23.16. The company has a market capitalization of $996.81 million, a price-to-earnings ratio of 2.66 and a beta of 1.19.

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, beating analysts' consensus estimates of $2.27 by $0.38. Global Ship Lease had a return on equity of 25.56% and a net margin of 53.31%. The business had revenue of $190.98 million during the quarter, compared to analyst estimates of $171.73 million. During the same quarter last year, the company posted $2.53 EPS. On average, sell-side analysts anticipate that Global Ship Lease, Inc. will post 9.74 EPS for the current year.

Global Ship Lease Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Friday, May 23rd were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, May 23rd. This is an increase from Global Ship Lease's previous quarterly dividend of $0.45. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.47%. Global Ship Lease's dividend payout ratio (DPR) is 19.83%.

Institutional Trading of Global Ship Lease

A number of institutional investors have recently added to or reduced their stakes in GSL. Crescent Grove Advisors LLC raised its holdings in shares of Global Ship Lease by 137.1% during the 1st quarter. Crescent Grove Advisors LLC now owns 70,617 shares of the shipping company's stock valued at $1,614,000 after purchasing an additional 40,828 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Global Ship Lease in the first quarter worth about $244,000. Janney Montgomery Scott LLC increased its holdings in shares of Global Ship Lease by 3.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 91,710 shares of the shipping company's stock valued at $2,096,000 after acquiring an additional 2,983 shares during the last quarter. Redhawk Wealth Advisors Inc. lifted its holdings in Global Ship Lease by 34.7% in the 1st quarter. Redhawk Wealth Advisors Inc. now owns 46,158 shares of the shipping company's stock worth $1,055,000 after purchasing an additional 11,892 shares during the last quarter. Finally, Novem Group bought a new stake in Global Ship Lease during the fourth quarter worth approximately $768,000. 50.08% of the stock is currently owned by institutional investors and hedge funds.

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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