Global Ship Lease (NYSE:GSL) Cut to "Neutral" at Clarkson Capital

Clarkson Capital downgraded shares of Global Ship Lease (NYSE:GSL - Free Report) from a buy rating to a neutral rating in a research note published on Thursday morning, Marketbeat.com reports. The brokerage currently has $27.00 price target on the shipping company's stock.

A number of other equities research analysts also recently weighed in on the stock. StockNews.com downgraded shares of Global Ship Lease from a "strong-buy" rating to a "buy" rating in a research note on Friday, October 25th. Jefferies Financial Group restated a "buy" rating and issued a $29.00 price target on shares of Global Ship Lease in a research note on Monday.

Global Ship Lease Stock Performance

NYSE:GSL traded down $0.60 during mid-day trading on Thursday, reaching $23.82. 539,798 shares of the company's stock were exchanged, compared to its average volume of 559,128. Global Ship Lease has a one year low of $17.47 and a one year high of $30.32. The firm has a market capitalization of $878.01 million, a PE ratio of 2.66 and a beta of 1.62. The business's fifty day simple moving average is $24.54 and its two-hundred day simple moving average is $25.94. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.42.

Global Ship Lease (NYSE:GSL - Get Free Report) last announced its quarterly earnings data on Monday, November 11th. The shipping company reported $2.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.43 by $0.02. The firm had revenue of $174.06 million for the quarter, compared to the consensus estimate of $175.83 million. Global Ship Lease had a net margin of 46.38% and a return on equity of 28.59%. During the same period in the prior year, the company posted $2.33 earnings per share. Analysts anticipate that Global Ship Lease will post 9.85 earnings per share for the current fiscal year.

Global Ship Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Friday, November 22nd will be given a dividend of $0.45 per share. The ex-dividend date is Friday, November 22nd. This represents a $1.80 annualized dividend and a yield of 7.56%. Global Ship Lease's dividend payout ratio is presently 16.61%.

Institutional Investors Weigh In On Global Ship Lease

Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in Global Ship Lease during the 2nd quarter worth approximately $2,130,000. Janney Montgomery Scott LLC raised its holdings in Global Ship Lease by 126.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 90,840 shares of the shipping company's stock worth $2,421,000 after purchasing an additional 50,660 shares during the last quarter. Marshall Wace LLP raised its holdings in Global Ship Lease by 275.5% during the 2nd quarter. Marshall Wace LLP now owns 1,068,524 shares of the shipping company's stock worth $30,763,000 after purchasing an additional 783,963 shares during the last quarter. Sei Investments Co. raised its holdings in Global Ship Lease by 780.1% during the 2nd quarter. Sei Investments Co. now owns 103,658 shares of the shipping company's stock worth $2,984,000 after purchasing an additional 91,880 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in Global Ship Lease by 147.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 506,085 shares of the shipping company's stock worth $13,487,000 after purchasing an additional 301,280 shares during the last quarter. 50.08% of the stock is currently owned by institutional investors and hedge funds.

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.