Global Ship Lease (NYSE:GSL) Reaches New 52-Week High at $23.40

Global Ship Lease, Inc. (NYSE:GSL - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The company traded as high as $23.40 and last traded at $23.40, with a volume of 52978 shares. The stock had previously closed at $23.14.

Analyst Ratings Changes

GSL has been the subject of a number of research analyst reports. StockNews.com raised Global Ship Lease from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, May 1st. Jefferies Financial Group reissued a "buy" rating and issued a $25.00 target price on shares of Global Ship Lease in a research note on Monday, March 4th.

Global Ship Lease Stock Up 1.0 %

The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.00. The company has a market capitalization of $822.04 million, a price-to-earnings ratio of 2.80 and a beta of 1.46. The firm has a 50-day moving average price of $20.92 and a two-hundred day moving average price of $19.90.

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

Global Ship Lease Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 22nd were issued a dividend of $0.375 per share. The ex-dividend date was Wednesday, February 21st. This represents a $1.50 annualized dividend and a yield of 6.42%. Global Ship Lease's payout ratio is presently 18.01%.

Institutional Trading of Global Ship Lease

Several institutional investors and hedge funds have recently bought and sold shares of the stock. GSA Capital Partners LLP raised its holdings in Global Ship Lease by 6.7% during the first quarter. GSA Capital Partners LLP now owns 62,426 shares of the shipping company's stock worth $1,267,000 after acquiring an additional 3,941 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Global Ship Lease by 10.4% in the first quarter. Janney Montgomery Scott LLC now owns 28,751 shares of the shipping company's stock valued at $584,000 after buying an additional 2,703 shares during the period. Crescent Grove Advisors LLC raised its stake in Global Ship Lease by 23.2% in the first quarter. Crescent Grove Advisors LLC now owns 78,240 shares of the shipping company's stock valued at $1,588,000 after buying an additional 14,725 shares during the period. BluePath Capital Management LLC bought a new stake in Global Ship Lease in the first quarter valued at approximately $559,000. Finally, ARGA Investment Management LP bought a new stake in Global Ship Lease in the first quarter valued at approximately $1,227,000. 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.