Global Ship Lease (NYSE:GSL) Hits New 52-Week High at $21.95

Global Ship Lease, Inc. (NYSE:GSL - Get Free Report) shares hit a new 52-week high during trading on Monday . The company traded as high as $21.95 and last traded at $21.87, with a volume of 622488 shares changing hands. The stock had previously closed at $21.34.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GSL. StockNews.com raised shares of Global Ship Lease from a "buy" rating to a "strong-buy" rating in a research report on Monday, April 15th. Jefferies Financial Group reissued a "buy" rating and set a $25.00 price objective on shares of Global Ship Lease in a research report on Monday, March 4th.

Global Ship Lease Stock Up 2.6 %

The company has a market cap of $770.62 million, a P/E ratio of 2.63 and a beta of 1.50. The stock's 50-day moving average price is $20.40 and its 200-day moving average price is $19.56. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 0.52.

Global Ship Lease (NYSE:GSL - Get Free Report) last released its quarterly earnings data on Monday, March 4th. The shipping company reported $2.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.34 by $0.15. The company had revenue of $178.89 million for the quarter, compared to analysts' expectations of $171.54 million. Global Ship Lease had a net margin of 45.12% and a return on equity of 29.87%. During the same quarter in the prior year, the firm earned $2.14 EPS. As a group, research analysts forecast that Global Ship Lease, Inc. will post 9.4 EPS for the current year.

Global Ship Lease Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 22nd were issued a $0.375 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $1.50 dividend on an annualized basis and a dividend yield of 6.85%. Global Ship Lease's dividend payout ratio is presently 18.01%.

Institutional Investors Weigh In On Global Ship Lease

A number of institutional investors and hedge funds have recently made changes to their positions in GSL. Whittier Trust Co. acquired a new stake in shares of Global Ship Lease in the 4th quarter worth about $40,000. Signaturefd LLC increased its stake in Global Ship Lease by 87.6% in the 4th quarter. Signaturefd LLC now owns 2,024 shares of the shipping company's stock valued at $40,000 after buying an additional 945 shares during the last quarter. Quadrant Capital Group LLC increased its stake in Global Ship Lease by 150.2% in the 4th quarter. Quadrant Capital Group LLC now owns 7,186 shares of the shipping company's stock valued at $142,000 after buying an additional 4,314 shares during the last quarter. Clear Street Markets LLC purchased a new stake in Global Ship Lease in the 4th quarter valued at about $172,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of Global Ship Lease during the 4th quarter valued at approximately $201,000. Institutional investors and hedge funds 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.