Global Ship Lease (NYSE:GSL) Stock Rating Upgraded by Wall Street Zen

Key Points

• Global Ship Lease has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, signaling increased confidence in the company's performance.
• Despite this upgrade, Clarkson Capital downgraded Global Ship Lease from a "strong-buy" to a "hold" with a target price of $28.00, indicating mixed analyst sentiments.
• The company reported earnings of $2.67 per share, exceeding expectations, and has a market capitalization of approximately $1.06 billion with a significant return on equity of 24.81%.

Global Ship Lease (NYSE:GSL - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

Several other brokerages have also recently issued reports on GSL. Jefferies Financial Group restated a "buy" rating and issued a $33.00 target price on shares of Global Ship Lease in a report on Tuesday, August 5th. Clarkson Capital cut shares of 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.

Global Ship Lease Trading Up 0.7%

Shares of Global Ship Lease stock traded up $0.22 on Friday, hitting $30.12. The stock had a trading volume of 356,420 shares, compared to its average volume of 384,881. 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 has a one year low of $17.73 and a one year high of $30.98. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 2.80 and a beta of 1.21. The stock's 50-day simple moving average is $27.21 and its two-hundred day simple moving average is $24.00.

Global Ship Lease (NYSE:GSL - Get Free Report) last issued its earnings results on Tuesday, August 5th. The shipping company reported $2.67 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $191.86 million for the quarter, compared to analysts' expectations of $177.98 million. As a group, sell-side analysts predict that Global Ship Lease will post 9.74 EPS for the current year.

Institutional Trading of Global Ship Lease

Large investors have recently added to or reduced their stakes in the stock. Cerity Partners LLC bought a new stake in Global Ship Lease in the 4th quarter worth about $286,000. Renaissance Technologies LLC boosted its stake in Global Ship Lease by 34.9% in the 4th quarter. Renaissance Technologies LLC now owns 629,750 shares of the shipping company's stock worth $13,747,000 after purchasing an additional 162,900 shares during the period. Raymond James Financial Inc. bought a new position in shares of Global Ship Lease during the 4th quarter valued at approximately $633,000. XTX Topco Ltd purchased a new stake in Global Ship Lease during the 4th quarter valued at $286,000. Finally, Jump Financial LLC raised its holdings in Global Ship Lease by 12.9% during the 4th quarter. Jump Financial LLC now owns 55,908 shares of the shipping company's stock valued at $1,220,000 after buying an additional 6,395 shares during the period. 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.