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 note issued on Tuesday.

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

Global Ship Lease Price Performance

GSL traded up $0.41 during trading on Tuesday, hitting $22.33. The company's stock had a trading volume of 902,135 shares, compared to its average volume of 666,962. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 0.52. The business's fifty day simple moving average is $20.44 and its 200 day simple moving average is $19.59. The firm has a market capitalization of $785.62 million, a price-to-earnings ratio of 2.68 and a beta of 1.50. Global Ship Lease has a twelve month low of $16.80 and a twelve month high of $22.60.

Global Ship Lease (NYSE:GSL - Get Free Report) last issued 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 company had revenue of $178.89 million for 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 business earned $2.14 EPS. On average, equities research analysts forecast that Global Ship Lease will post 9.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of 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 shares of Global Ship Lease during the fourth quarter worth about $40,000. Signaturefd LLC boosted its position in shares of Global Ship Lease by 87.6% during the fourth quarter. Signaturefd LLC now owns 2,024 shares of the shipping company's stock worth $40,000 after buying an additional 945 shares during the period. Quadrant Capital Group LLC raised its holdings in Global Ship Lease by 150.2% during the fourth quarter. Quadrant Capital Group LLC now owns 7,186 shares of the shipping company's stock worth $142,000 after purchasing an additional 4,314 shares in the last quarter. Clear Street Markets LLC bought a new stake in Global Ship Lease during the fourth quarter worth approximately $172,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in Global Ship Lease during the fourth quarter worth 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.