Global Ship Lease (NYSE:GSL) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research has upgraded Global Ship Lease from a "hold" rating to a "strong-buy" rating, reflecting increased confidence in the stock's performance.
• The stock has an average rating of "Buy" with a consensus target price of $30.50, indicating positive market sentiment among analysts.
• Global Ship Lease reported a Q2 EPS of $2.67, exceeding estimates and showcasing strong operational performance, with revenues of $191.86 million for the quarter.

Global Ship Lease (NYSE:GSL - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Monday,Zacks.com reports.

Several other research firms have also recently weighed in on GSL. Wall Street Zen upgraded Global Ship Lease from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Weiss Ratings restated a "buy (b)" rating on shares of Global Ship Lease in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group restated a "buy" rating and set a $33.00 target price on shares of Global Ship Lease in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $30.50.

Global Ship Lease Price Performance

Shares of NYSE GSL opened at $27.76 on Monday. Global Ship Lease has a twelve month low of $17.73 and a twelve month high of $33.08. The business's 50 day moving average price is $30.57 and its two-hundred day moving average price is $26.64. The company has a quick ratio of 1.94, a current ratio of 2.01 and a debt-to-equity ratio of 0.37. The company has a market cap of $993.15 million, a PE ratio of 2.58 and a beta of 1.20.

Global Ship Lease (NYSE:GSL - Get Free Report) last posted its earnings results on Tuesday, August 5th. The shipping company reported $2.67 EPS for the quarter, beating the consensus estimate of $2.15 by $0.52. The company had revenue of $191.86 million for the quarter, compared to the consensus estimate of $177.98 million. Global Ship Lease had a return on equity of 24.81% and a net margin of 53.09%. On average, analysts predict that Global Ship Lease will post 9.74 EPS for the current year.

Institutional Trading of Global Ship Lease

A number of large investors have recently bought and sold shares of the business. Isthmus Partners LLC grew its holdings in Global Ship Lease by 0.3% during the 2nd quarter. Isthmus Partners LLC now owns 113,972 shares of the shipping company's stock worth $2,999,000 after acquiring an additional 347 shares during the period. Prospera Financial Services Inc boosted its position in shares of Global Ship Lease by 4.5% during the 2nd quarter. Prospera Financial Services Inc now owns 11,023 shares of the shipping company's stock worth $290,000 after purchasing an additional 477 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Global Ship Lease by 6.7% during the 2nd quarter. Parallel Advisors LLC now owns 9,342 shares of the shipping company's stock worth $246,000 after purchasing an additional 584 shares in the last quarter. Sigma Planning Corp boosted its position in shares of Global Ship Lease by 3.2% during the 2nd quarter. Sigma Planning Corp now owns 19,250 shares of the shipping company's stock worth $506,000 after purchasing an additional 600 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its position in shares of Global Ship Lease by 41.9% during the 1st quarter. SBI Securities Co. Ltd. now owns 2,430 shares of the shipping company's stock worth $56,000 after purchasing an additional 717 shares in the last quarter. 50.08% of the stock is currently owned by institutional investors and hedge funds.

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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