Global Ship Lease (NYSE:GSL) Receives "Buy" Rating from Jefferies Financial Group

Global Ship Lease (NYSE:GSL - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at Jefferies Financial Group in a research note issued on Wednesday,Benzinga reports. They presently have a $29.00 price objective on the shipping company's stock. Jefferies Financial Group's target price points to a potential upside of 25.90% from the company's current price.

A number of other research firms have also recently weighed in on GSL. Clarkson Capital cut shares of Global Ship Lease from a "buy" rating to a "neutral" rating and set a $27.00 price objective for the company. in a research report on Thursday, November 14th. StockNews.com raised Global Ship Lease from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, February 25th.

Global Ship Lease Stock Up 8.0 %

Shares of NYSE:GSL traded up $1.72 during mid-day trading on Wednesday, hitting $23.04. 1,008,645 shares of the company traded hands, compared to its average volume of 358,283. The firm's 50 day simple moving average is $21.95 and its 200 day simple moving average is $23.21. The firm has a market cap of $849.12 million, a P/E ratio of 2.55 and a beta of 1.53. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.58 and a current ratio of 1.64. Global Ship Lease has a 52-week low of $19.22 and a 52-week high of $30.32.

Global Ship Lease (NYSE:GSL - Get Free Report) last posted its quarterly earnings data on Wednesday, March 5th. The shipping company reported $2.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.30 by $0.25. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. On average, equities analysts anticipate that Global Ship Lease will post 9.74 EPS for the current year.

Institutional Investors Weigh In On Global Ship Lease

Several institutional investors and hedge funds have recently made changes to their positions in GSL. Donald Smith & CO. Inc. increased its stake in Global Ship Lease by 69.0% during the fourth quarter. Donald Smith & CO. Inc. now owns 3,139,470 shares of the shipping company's stock valued at $68,535,000 after purchasing an additional 1,281,941 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Global Ship Lease by 34.9% during the 4th quarter. Renaissance Technologies LLC now owns 629,750 shares of the shipping company's stock valued at $13,747,000 after buying an additional 162,900 shares during the last quarter. Foundry Partners LLC grew its position in shares of Global Ship Lease by 45.2% during the 3rd quarter. Foundry Partners LLC now owns 475,956 shares of the shipping company's stock valued at $12,684,000 after buying an additional 148,247 shares during the last quarter. Moran Wealth Management LLC bought a new position in Global Ship Lease in the third quarter worth about $2,894,000. Finally, GSA Capital Partners LLP lifted its holdings in Global Ship Lease by 62.5% in the third quarter. GSA Capital Partners LLP now owns 173,391 shares of the shipping company's stock worth $4,621,000 after acquiring an additional 66,714 shares during the last quarter. 50.08% of the stock is 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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