Global Ship Lease (NYSE:GSL) Receives Buy Rating from Jefferies Financial Group

Key Points

• Global Ship Lease (NYSE:GSL) has received a "buy" rating from Jefferies Financial Group, with a price target set at $33.00, indicating a potential upside of 12.36% from its previous close.
• Shares of Global Ship Lease traded up by 2.7%, reaching $29.37 during midday trading, with a recent earnings report showing an EPS of $2.67, surpassing the consensus estimate.
• Several hedge funds have increased their stakes in Global Ship Lease, demonstrating strong institutional interest, as they now own 50.08% of the company's stock.

Global Ship Lease (NYSE:GSL - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at Jefferies Financial Group in a report issued on Tuesday,Benzinga reports. They presently have a $33.00 price target on the shipping company's stock. Jefferies Financial Group's price target indicates a potential upside of 12.36% from the company's previous close.

A number of other research firms have also weighed in on GSL. Clarkson Capital lowered Global Ship Lease from a "strong-buy" rating to a "hold" rating and set a $28.00 price objective for the company. in a research note on Thursday, May 22nd. Wall Street Zen lowered Global Ship Lease from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th.

Global Ship Lease Trading Up 2.7%

Shares of NYSE GSL traded up $0.78 during midday trading on Tuesday, hitting $29.37. The company's stock had a trading volume of 481,532 shares, compared to its average volume of 378,778. The business's 50 day moving average is $26.82 and its two-hundred day moving average is $23.76. The firm has a market cap of $1.04 billion, a P/E ratio of 2.77 and a beta of 1.21. Global Ship Lease has a 12-month low of $17.73 and a 12-month high of $29.67. The company has a current ratio of 1.77, a quick ratio of 1.71 and a debt-to-equity ratio of 0.40.

Global Ship Lease (NYSE:GSL - Get Free Report) last announced its earnings results on Tuesday, August 5th. The shipping company reported $2.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.52. Global Ship Lease had a return on equity of 25.56% and a net margin of 53.31%. As a group, equities research analysts expect that Global Ship Lease will post 9.74 EPS for the current year.

Hedge Funds Weigh In On Global Ship Lease

Several hedge funds have recently made changes to their positions in the company. Corton Capital Inc. purchased a new position in shares of Global Ship Lease during the second quarter worth about $288,000. Sigma Planning Corp lifted its position in Global Ship Lease by 3.2% in the second quarter. Sigma Planning Corp now owns 19,250 shares of the shipping company's stock valued at $506,000 after purchasing an additional 600 shares during the period. Y Intercept Hong Kong Ltd lifted its position in shares of Global Ship Lease by 60.4% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 14,347 shares of the shipping company's stock valued at $377,000 after acquiring an additional 5,402 shares during the period. Commons Capital LLC lifted its position in shares of Global Ship Lease by 244.0% during the 2nd quarter. Commons Capital LLC now owns 86,000 shares of the shipping company's stock valued at $2,263,000 after acquiring an additional 61,000 shares during the period. Finally, Allianz Asset Management GmbH lifted its position in shares of Global Ship Lease by 10.1% during the 2nd quarter. Allianz Asset Management GmbH now owns 385,416 shares of the shipping company's stock valued at $10,140,000 after acquiring an additional 35,205 shares during the period. 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.

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