Global Ship Lease (NYSE:GSL) Stock Rating Upgraded by StockNews.com

Global Ship Lease (NYSE:GSL - Get Free Report) was upgraded by StockNews.com from a "buy" rating to a "strong-buy" rating in a research note issued to investors on Monday.

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

Global Ship Lease Stock Performance

NYSE:GSL traded up $0.28 during trading hours on Monday, reaching $21.39. The company had a trading volume of 786,482 shares, compared to its average volume of 653,283. The firm has a market cap of $752.71 million, a PE ratio of 2.57 and a beta of 1.50. Global Ship Lease has a 1-year low of $16.80 and a 1-year high of $21.94. The business's 50 day moving average price is $20.31 and its 200-day moving average price is $19.44. 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 earnings results on Monday, March 4th. The shipping company reported $2.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.15. Global Ship Lease had a net margin of 45.12% and a return on equity of 29.87%. The firm had revenue of $178.89 million during the quarter, compared to analysts' expectations of $171.54 million. During the same period in the previous year, the business posted $2.14 EPS. Research analysts forecast that Global Ship Lease will post 9.4 EPS for the current year.

Hedge Funds Weigh In On Global Ship Lease

Several institutional investors and hedge funds have recently bought and sold shares of GSL. Goldman Sachs Group Inc. raised its position in shares of Global Ship Lease by 7,347.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,017,197 shares of the shipping company's stock valued at $33,324,000 after buying an additional 1,990,112 shares during the period. Donald Smith & CO. Inc. grew its stake in Global Ship Lease by 235.9% during the 4th quarter. Donald Smith & CO. Inc. now owns 1,564,165 shares of the shipping company's stock worth $31,002,000 after purchasing an additional 1,098,558 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in Global Ship Lease during the 4th quarter worth about $21,588,000. Millennium Management LLC raised its position in Global Ship Lease by 123.0% in the 2nd quarter. Millennium Management LLC now owns 1,321,823 shares of the shipping company's stock valued at $21,837,000 after purchasing an additional 728,945 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted its stake in shares of Global Ship Lease by 2,215.7% in the 1st quarter. Balyasny Asset Management L.P. now owns 368,806 shares of the shipping company's stock valued at $6,911,000 after buying an additional 352,880 shares during the period. 50.08% of the stock is currently owned by institutional investors and hedge funds.

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.

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