Global Ship Lease (NYSE:GSL) Rating Lowered to Buy at StockNews.com

Global Ship Lease (NYSE:GSL - Get Free Report) was downgraded by stock analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Tuesday.

Separately, Jefferies Financial Group restated a "buy" rating and set a $25.00 target price on shares of Global Ship Lease in a report on Monday, March 4th.

Global Ship Lease Trading Down 0.7 %

Shares of Global Ship Lease stock traded down $0.13 during midday trading on Tuesday, reaching $20.23. 681,105 shares of the company's stock traded hands, compared to its average volume of 631,645. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.00 and a current ratio of 1.05. The company has a market cap of $711.72 million, a PE ratio of 2.43 and a beta of 1.50. The stock has a 50 day moving average of $20.30 and a 200-day moving average of $19.23. Global Ship Lease has a 12 month low of $16.80 and a 12 month high of $21.94.

Global Ship Lease (NYSE:GSL - Get Free Report) last announced its earnings results on Monday, March 4th. The shipping company reported $2.49 EPS for the quarter, beating 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 return on equity of 29.87% and a net margin of 45.12%. During the same quarter in the prior year, the company earned $2.14 earnings per share. As a group, equities analysts expect that Global Ship Lease will post 9.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Global Ship Lease

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Whittier Trust Co. purchased a new stake in Global Ship Lease in the fourth quarter worth $40,000. Signaturefd LLC grew its stake in shares of Global Ship Lease by 87.6% in the fourth 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 last quarter. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Global Ship Lease in the third quarter worth $38,000. Clear Street Markets LLC purchased a new stake in shares of Global Ship Lease in the fourth quarter worth $35,000. Finally, Quarry LP purchased a new stake in shares of Global Ship Lease in the second quarter worth $44,000. 50.08% of the stock is owned by hedge funds and other institutional investors.

About Global Ship Lease

Global Ship Lease, Inc owns and charters containerships under fixed-rate charters to container shipping companies. As of March 10, 2023, it owned 65 mid-sized and smaller containerships with an aggregate capacity of 342,348 twenty-foot equivalent units. The company was founded in 2007 and is based in London, the United Kingdom.

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