Global Ship Lease, Inc. (NYSE:GSL - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $22.91 and traded as high as $27.45. Global Ship Lease shares last traded at $27.03, with a volume of 505,067 shares traded.
Analyst Ratings Changes
Several research firms have recently issued reports on GSL. Jefferies Financial Group lifted their price target on Global Ship Lease from $28.00 to $30.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Wall Street Zen upgraded Global Ship Lease from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Finally, Clarkson Capital cut Global Ship Lease from a "strong-buy" rating to a "hold" rating and set a $28.00 target price on the stock. in a report on Thursday, May 22nd.
View Our Latest Research Report on GSL
Global Ship Lease Trading Up 2.4%
The firm has a market capitalization of $976.79 million, a PE ratio of 2.61 and a beta of 1.19. The company has a quick ratio of 1.71, a current ratio of 1.77 and a debt-to-equity ratio of 0.40. The business's fifty day moving average price is $25.16 and its 200 day moving average price is $22.97.
Global Ship Lease (NYSE:GSL - Get Free Report) last issued its quarterly earnings results on Monday, May 19th. The shipping company reported $2.65 EPS for the quarter, topping analysts' consensus estimates of $2.27 by $0.38. The business had revenue of $190.98 million during the quarter, compared to the consensus estimate of $171.73 million. Global Ship Lease had a net margin of 53.31% and a return on equity of 25.56%. During the same period in the previous year, the firm posted $2.53 earnings per share. As a group, analysts expect that Global Ship Lease, Inc. will post 9.74 EPS for the current fiscal year.
Global Ship Lease Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Friday, May 23rd were paid a dividend of $0.525 per share. The ex-dividend date was Friday, May 23rd. This represents a $2.10 dividend on an annualized basis and a yield of 7.62%. This is an increase from Global Ship Lease's previous quarterly dividend of $0.45. Global Ship Lease's dividend payout ratio (DPR) is currently 19.83%.
Hedge Funds Weigh In On Global Ship Lease
Several hedge funds and other institutional investors have recently modified their holdings of GSL. SVB Wealth LLC acquired a new position in shares of Global Ship Lease in the 1st quarter valued at about $33,000. CIBC Private Wealth Group LLC lifted its stake in shares of Global Ship Lease by 6,856.5% in 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 in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Global Ship Lease in the 4th quarter valued at about $37,000. Steward Partners Investment Advisory LLC purchased a new stake in Global Ship Lease during the 4th quarter worth $46,000. Finally, WealthCollab LLC boosted its position in Global Ship Lease by 64.1% during the 4th quarter. WealthCollab LLC now owns 2,615 shares of the shipping company's stock worth $57,000 after purchasing an additional 1,021 shares during the period. 50.08% of the stock is owned by institutional investors and hedge funds.
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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