Global Ship Lease (NYSE:GSL) Upgraded to Buy at Wall Street Zen

Global Ship Lease (NYSE:GSL - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.

Other equities research analysts have also recently issued reports about the company. Jefferies Financial Group upped their target price on Global Ship Lease from $28.00 to $30.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Clarkson Capital cut Global Ship Lease from a "strong-buy" rating to a "hold" rating and set a $28.00 price target for the company. in a report on Thursday, May 22nd.

Global Ship Lease Stock Performance

Shares of GSL traded up $0.29 during mid-day trading on Friday, hitting $25.95. 325,800 shares of the company's stock were exchanged, compared to its average volume of 392,392. The company has a quick ratio of 1.71, a current ratio of 1.77 and a debt-to-equity ratio of 0.40. Global Ship Lease has a 52 week low of $17.73 and a 52 week high of $30.19. The stock's 50-day simple moving average is $23.77 and its 200-day simple moving average is $22.57. The firm has a market cap of $919.75 million, a price-to-earnings ratio of 2.45 and a beta of 1.19.

Global Ship Lease (NYSE:GSL - Get Free Report) last issued its quarterly earnings results on Monday, May 19th. The shipping company reported $2.65 EPS for the quarter, topping analysts' consensus estimates of $2.27 by $0.38. The company had revenue of $190.98 million for the quarter, compared to analysts' expectations of $171.73 million. Global Ship Lease had a return on equity of 25.56% and a net margin of 53.31%. During the same quarter last year, the business earned $2.53 earnings per share. On average, equities research analysts expect that Global Ship Lease will post 9.74 EPS for the current year.

Hedge Funds Weigh In On Global Ship Lease

Several institutional investors and hedge funds have recently added to or reduced their stakes in GSL. SBI Securities Co. Ltd. increased its holdings in shares of Global Ship Lease by 41.9% during the first quarter. SBI Securities Co. Ltd. now owns 2,430 shares of the shipping company's stock worth $56,000 after buying an additional 717 shares in the last quarter. Isthmus Partners LLC increased its holdings in Global Ship Lease by 0.7% in the 1st quarter. Isthmus Partners LLC now owns 113,625 shares of the shipping company's stock worth $2,596,000 after purchasing an additional 793 shares in the last quarter. WealthCollab LLC raised its position in Global Ship Lease by 64.1% in the fourth quarter. WealthCollab LLC now owns 2,615 shares of the shipping company's stock valued at $57,000 after purchasing an additional 1,021 shares during the last quarter. SVB Wealth LLC acquired a new stake in shares of Global Ship Lease during the first quarter valued at about $33,000. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of Global Ship Lease by 6,856.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,600 shares of the shipping company's stock valued at $36,000 after purchasing an additional 1,577 shares in the last quarter. Institutional investors own 50.08% of the company's stock.

About Global Ship Lease

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.