Global Ship Lease, Inc. (NYSE:GSL - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $26.86 and traded as high as $28.96. Global Ship Lease shares last traded at $28.26, with a volume of 266,479 shares.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on the stock. Zacks Research upgraded shares of Global Ship Lease from a "hold" rating to a "strong-buy" rating in a report on Monday, October 13th. Weiss Ratings restated a "buy (b)" rating on shares of Global Ship Lease in a report on Wednesday, October 8th. Jefferies Financial Group restated a "buy" rating and issued a $33.00 price target on shares of Global Ship Lease in a report on Tuesday, August 5th. Finally, Wall Street Zen raised shares of Global Ship Lease from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $30.50.
Get Our Latest Analysis on GSL
Global Ship Lease Price Performance
The stock has a market capitalization of $1.01 billion, a P/E ratio of 2.62 and a beta of 1.20. The business's 50 day simple moving average is $30.43 and its two-hundred day simple moving average is $26.86. The company has a quick ratio of 1.94, a current ratio of 2.01 and a debt-to-equity ratio of 0.37.
Global Ship Lease (NYSE:GSL - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The shipping company reported $2.67 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.52. Global Ship Lease had a net margin of 53.09% and a return on equity of 24.81%. The company had revenue of $191.86 million for the quarter, compared to analyst estimates of $177.98 million. As a group, sell-side analysts forecast that Global Ship Lease, Inc. will post 9.74 earnings per share for the current fiscal year.
Global Ship Lease Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Wednesday, September 24th were given a dividend of $0.5469 per share. This is a positive change from Global Ship Lease's previous quarterly dividend of $0.53. This represents a $2.19 dividend on an annualized basis and a dividend yield of 7.7%. Global Ship Lease's dividend payout ratio (DPR) is presently 19.50%.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in shares of Global Ship Lease by 351.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 75,644 shares of the shipping company's stock valued at $1,728,000 after purchasing an additional 58,872 shares in the last quarter. Crescent Grove Advisors LLC lifted its position in shares of Global Ship Lease by 137.1% during the first 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 bought a new position in shares of Global Ship Lease during the first quarter valued at about $244,000. Hsbc Holdings PLC bought a new stake in Global Ship Lease in the first quarter worth about $279,000. Finally, Janney Montgomery Scott LLC raised its position in Global Ship Lease by 3.4% in the first quarter. Janney Montgomery Scott LLC now owns 91,710 shares of the shipping company's stock worth $2,096,000 after acquiring an additional 2,983 shares during the period. 50.08% of the stock is owned by institutional investors.
About Global Ship Lease
(
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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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