Global Ship Lease (NYSE:GSL) Reaches New 1-Year High at $23.01

Global Ship Lease, Inc. (NYSE:GSL - Get Free Report) shares reached a new 52-week high during trading on Monday . The stock traded as high as $23.01 and last traded at $22.94, with a volume of 154024 shares trading hands. The stock had previously closed at $22.81.

Analysts Set New Price Targets

Several research firms have issued reports on GSL. Jefferies Financial Group reissued a "buy" rating and issued a $25.00 price target on shares of Global Ship Lease in a research note on Monday, March 4th. StockNews.com lowered Global Ship Lease from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, April 23rd.

Global Ship Lease Stock Performance

The firm has a market cap of $809.19 million, a P/E ratio of 2.76 and a beta of 1.50. The stock's 50-day moving average price is $20.62 and its 200 day moving average price is $19.72. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.00.

Global Ship Lease (NYSE:GSL - Get Free Report) last posted its quarterly earnings data on Monday, March 4th. The shipping company reported $2.49 EPS for the quarter, topping analysts' consensus estimates of $2.34 by $0.15. The company had revenue of $178.89 million during the quarter, compared to the consensus estimate 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 period in the prior year, the business posted $2.14 EPS. As a group, equities analysts predict that Global Ship Lease, Inc. will post 9.4 EPS for the current year.

Global Ship Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 22nd were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 6.52%. The ex-dividend date was Wednesday, February 21st. Global Ship Lease's dividend payout ratio is currently 18.01%.

Institutional Trading of Global Ship Lease

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its holdings in shares of Global Ship Lease by 2.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 23,037 shares of the shipping company's stock valued at $423,000 after purchasing an additional 603 shares during the period. Signaturefd LLC raised its stake in Global Ship Lease by 87.6% in the fourth 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 period. Kestra Advisory Services LLC lifted its position in shares of Global Ship Lease by 12.0% in the third quarter. Kestra Advisory Services LLC now owns 11,808 shares of the shipping company's stock valued at $217,000 after buying an additional 1,264 shares during the last quarter. WINTON GROUP Ltd boosted its stake in shares of Global Ship Lease by 6.5% during the 3rd quarter. WINTON GROUP Ltd now owns 21,500 shares of the shipping company's stock worth $394,000 after acquiring an additional 1,311 shares during the period. Finally, Exchange Traded Concepts LLC increased its holdings in shares of Global Ship Lease by 7.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 21,303 shares of the shipping company's stock worth $391,000 after acquiring an additional 1,477 shares during the last quarter. 50.08% of the stock is owned by institutional investors.

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.