Wall Street Zen Downgrades Global Ship Lease (NYSE:GSL) to Hold

Key Points

• Wall Street Zen downgraded Global Ship Lease to “Hold” from “Buy,” although the broader analyst consensus remains “Buy” with a $51 price target.
• Global Ship Lease exceeded quarterly expectations, reporting $2.48 EPS versus $2.42 expected and $198.69 million in revenue versus $186.85 million projected; revenue rose 3.9% year over year.
• The stock opened at $42.27, near its 52-week high of $44.69, with a $1.52 billion market capitalization and strong profitability metrics, including a 49.1% net margin.

Global Ship Lease (NYSE:GSL - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings restated a "buy (b)" rating on shares of Global Ship Lease in a research report on Friday, July 17th. B. Riley Financial lifted their price target on shares of Global Ship Lease from $48.00 to $52.00 and gave the stock a "buy" rating in a report on Thursday. Fearnley Fonds raised shares of Global Ship Lease from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 30th. Jefferies Financial Group increased their price objective on Global Ship Lease from $45.00 to $50.00 and gave the company a "buy" rating in a report on Thursday. Finally, Zacks Research raised Global Ship Lease from a "strong sell" rating to a "hold" rating in a research report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $51.00.

Global Ship Lease Stock Performance

NYSE:GSL opened at $42.27 on Friday. The stock has a market cap of $1.52 billion, a P/E ratio of 4.06 and a beta of 0.90. The company has a current ratio of 2.13, a quick ratio of 2.21 and a debt-to-equity ratio of 0.27. The stock's 50-day moving average is $40.08 and its 200-day moving average is $39.11. Global Ship Lease has a 1-year low of $27.28 and a 1-year high of $44.69.

Global Ship Lease (NYSE:GSL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The shipping company reported $2.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.42 by $0.06. Global Ship Lease had a net margin of 49.10% and a return on equity of 19.92%. The business had revenue of $198.69 million during the quarter, compared to analyst estimates of $186.85 million. During the same quarter last year, the business earned $2.67 EPS. The firm's quarterly revenue was up 3.9% on a year-over-year basis. Equities research analysts anticipate that Global Ship Lease will post 9.62 earnings per share for the current year.

Institutional Investors Weigh In On Global Ship Lease

Several large investors have recently modified their holdings of the company. Triumph Capital Management bought a new position in Global Ship Lease during the third quarter worth $25,000. Northwestern Mutual Wealth Management Co. bought a new stake in Global Ship Lease during the fourth quarter valued at $29,000. Hilton Head Capital Partners LLC acquired a new stake in Global Ship Lease during the 4th quarter worth about $35,000. SHP Wealth Management acquired a new stake in Global Ship Lease during the 4th quarter worth about $35,000. Finally, LOM Asset Management Ltd acquired a new stake in Global Ship Lease during the 4th quarter worth about $49,000. 50.08% of the stock is currently owned by institutional investors and hedge funds.

About Global Ship Lease

Global Ship Lease NYSE: GSL is a Bermuda-based containership charter owner focused on acquiring, owning and leasing modern, fuel-efficient vessels to major liner operators. Founded in 2011 and listed on the New York Stock Exchange the same year, the company’s fleet primarily comprises post-Panamax containerships designed to serve the high-volume Asia–Europe and transpacific shipping lanes. By specializing in long-term charter agreements, Global Ship Lease aims to maintain stable revenue streams and minimize spot-market volatility.

The company’s business model centers on negotiating multi-year time charters with leading global shipping lines.

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