Global Ship Lease (NYSE:GSL) Sets New 52-Week Low - Time to Sell?

Global Ship Lease, Inc. (NYSE:GSL - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $20.50 and last traded at $19.71, with a volume of 9442 shares changing hands. The stock had previously closed at $20.87.

Analyst Ratings Changes

GSL has been the topic of a number of recent analyst reports. Jefferies Financial Group reaffirmed a "buy" rating and set a $29.00 price target on shares of Global Ship Lease in a research note on Wednesday, March 5th. Clarkson Capital raised Global Ship Lease from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. Finally, StockNews.com downgraded Global Ship Lease from a "strong-buy" rating to a "buy" rating in a research report on Friday, March 7th.

Global Ship Lease Trading Up 4.0 %

The firm's 50 day simple moving average is $22.27 and its 200-day simple moving average is $22.82. The company has a market capitalization of $672.78 million, a PE ratio of 2.10 and a beta of 1.21. The company has a quick ratio of 1.58, a current ratio of 1.64 and a debt-to-equity ratio of 0.38.

Global Ship Lease (NYSE:GSL - Get Free Report) last issued its quarterly earnings results on Wednesday, March 5th. The shipping company reported $2.55 EPS for the quarter, beating analysts' consensus estimates of $2.30 by $0.25. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. The firm had revenue of $182.43 million during the quarter, compared to the consensus estimate of $170.71 million. As a group, equities research analysts anticipate that Global Ship Lease, Inc. will post 9.74 EPS for the current year.

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Global Ship Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 9.48%. The ex-dividend date was Monday, February 24th. Global Ship Lease's dividend payout ratio is currently 18.50%.

Institutional Investors Weigh In On Global Ship Lease

Institutional investors have recently modified their holdings of the stock. CIBC Private Wealth Group LLC increased its holdings in Global Ship Lease by 6,856.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,600 shares of the shipping company's stock valued at $36,000 after buying an additional 1,577 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Global Ship Lease in the 4th quarter worth approximately $37,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Global Ship Lease in the 4th quarter valued at approximately $46,000. R Squared Ltd acquired a new stake in shares of Global Ship Lease during the 4th quarter valued at approximately $50,000. Finally, WealthCollab LLC lifted its stake in Global Ship Lease by 64.1% during the fourth quarter. WealthCollab LLC now owns 2,615 shares of the shipping company's stock worth $57,000 after purchasing an additional 1,021 shares during the last quarter. Institutional investors and hedge funds own 50.08% of the company's stock.

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.