Global Ship Lease (NYSE:GSL) Stock Price Crosses Above 200-Day Moving Average - Should You Sell?

Global Ship Lease, Inc. (NYSE:GSL - Get Free Report) shares 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 changing hands.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GSL. Jefferies Financial Group increased their price target on shares of Global Ship Lease from $28.00 to $30.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Clarkson Capital cut shares of Global Ship Lease from a "strong-buy" rating to a "hold" rating and set a $28.00 price target for the company. in a research report on Thursday, May 22nd. Finally, 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.

Global Ship Lease Price Performance

The firm's fifty day simple moving average is $25.28 and its 200-day simple moving average is $23.01. The firm has a market capitalization of $980.50 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.

Global Ship Lease (NYSE:GSL - Get Free Report) last announced 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 firm had revenue of $190.98 million during the quarter, compared to analyst estimates 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 business posted $2.53 earnings per share. On average, research 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Friday, May 23rd were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 7.59%. This is a positive change from Global Ship Lease's previous quarterly dividend of $0.45. The ex-dividend date was Friday, May 23rd. Global Ship Lease's payout ratio is 19.83%.

Hedge Funds Weigh In On Global Ship Lease

Hedge funds have recently modified their holdings of the company. Crescent Grove Advisors LLC boosted its position in shares of Global Ship Lease by 137.1% in the first quarter. Crescent Grove Advisors LLC now owns 70,617 shares of the shipping company's stock worth $1,614,000 after purchasing an additional 40,828 shares during the period. Exchange Traded Concepts LLC bought a new position in shares of Global Ship Lease in the first quarter worth approximately $244,000. Janney Montgomery Scott LLC boosted its position in shares of 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 purchasing an additional 2,983 shares during the period. Redhawk Wealth Advisors Inc. boosted its position in shares of Global Ship Lease by 34.7% in the first 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 period. Finally, SBI Securities Co. Ltd. bought a new position in shares of Global Ship Lease in the fourth quarter worth approximately $37,000. 50.08% of the stock is currently owned by institutional investors.

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.