Global Ship Lease (NYSE:GSL) Sets New 52-Week High at $27.00

Global Ship Lease, Inc. (NYSE:GSL - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $27.00 and last traded at $27.00, with a volume of 606 shares changing hands. The stock had previously closed at $26.79.

Wall Street Analyst Weigh In

GSL has been the subject of a number of analyst reports. StockNews.com cut shares of Global Ship Lease from a "strong-buy" rating to a "buy" rating in a report on Monday, May 13th. Jefferies Financial Group boosted their price target on shares of Global Ship Lease from $26.00 to $29.00 and gave the stock a "buy" rating in a report on Thursday.

Global Ship Lease Trading Up 1.2 %

The firm has a market capitalization of $953.82 million, a PE ratio of 3.06 and a beta of 1.46. The firm's fifty day moving average is $21.93 and its two-hundred day moving average is $20.40. 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 released its quarterly earnings results 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 business 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 46.30% and a return on equity of 30.26%. During the same period in the previous year, the company earned $2.14 earnings per share. On average, equities analysts predict that Global Ship Lease, Inc. will post 9.61 EPS for the current fiscal year.

Global Ship Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 24th will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 5.53%. The ex-dividend date is Thursday, May 23rd. Global Ship Lease's dividend payout ratio is 16.95%.

Institutional Trading of Global Ship Lease

Hedge funds have recently added to or reduced their stakes in the stock. Whittier Trust Co. bought a new stake in shares of Global Ship Lease in the fourth quarter valued at approximately $40,000. Signaturefd LLC increased its holdings in Global Ship Lease by 87.6% during the 4th quarter. Signaturefd LLC now owns 2,024 shares of the shipping company's stock worth $40,000 after acquiring an additional 945 shares during the period. Quadrant Capital Group LLC increased its holdings in Global Ship Lease by 150.2% during the 4th quarter. Quadrant Capital Group LLC now owns 7,186 shares of the shipping company's stock worth $142,000 after acquiring an additional 4,314 shares during the period. Clear Street Markets LLC bought a new stake in Global Ship Lease during the 4th quarter worth approximately $172,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in Global Ship Lease during the 4th quarter worth approximately $201,000. 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.