Global Ship Lease, Inc. (NYSE:GSL - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $22.85, but opened at $22.24. Global Ship Lease shares last traded at $22.11, with a volume of 104,237 shares changing hands.
Analyst Ratings Changes
GSL has been the topic of a number of research reports. Jefferies Financial Group restated a "buy" rating and issued a $29.00 price target on shares of Global Ship Lease in a report on Monday, November 11th. StockNews.com downgraded Global Ship Lease from a "strong-buy" rating to a "buy" rating in a research report on Friday, October 25th. Finally, Clarkson Capital downgraded shares of Global Ship Lease from a "buy" rating to a "neutral" rating and set a $27.00 price objective on the stock. in a report on Thursday, November 14th.
Get Our Latest Analysis on Global Ship Lease
Global Ship Lease Stock Up 0.1 %
The stock has a market capitalization of $826.77 million, a price-to-earnings ratio of 2.53 and a beta of 1.62. The firm has a 50-day moving average of $24.55 and a 200 day moving average of $25.94. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.64 and a quick ratio of 1.58.
Global Ship Lease (NYSE:GSL - Get Free Report) last released its earnings results on Monday, November 11th. The shipping company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.02. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. The business had revenue of $174.06 million during the quarter, compared to analysts' expectations of $175.83 million. During the same period last year, the business earned $2.33 earnings per share. As a group, sell-side analysts forecast that Global Ship Lease, Inc. will post 9.85 earnings per share for the current fiscal year.
Global Ship Lease Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Friday, November 22nd will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.02%. Global Ship Lease's payout ratio is 16.61%.
Hedge Funds Weigh In On Global Ship Lease
Hedge funds and other institutional investors have recently bought and sold shares of the business. Tidal Investments LLC boosted its stake in shares of Global Ship Lease by 14.8% during the 1st quarter. Tidal Investments LLC now owns 15,832 shares of the shipping company's stock worth $321,000 after acquiring an additional 2,038 shares during the period. Whitefort Capital Management LP boosted its position in Global Ship Lease by 4.2% during the first quarter. Whitefort Capital Management LP now owns 1,977,224 shares of the shipping company's stock worth $40,138,000 after purchasing an additional 79,743 shares during the period. Virtu Financial LLC acquired a new position in shares of Global Ship Lease in the first quarter valued at $324,000. Mather Group LLC. acquired a new position in shares of Global Ship Lease in the second quarter valued at $88,000. Finally, Harbor Capital Advisors Inc. raised its position in shares of Global Ship Lease by 237.7% in the second quarter. Harbor Capital Advisors Inc. now owns 204,805 shares of the shipping company's stock valued at $5,896,000 after purchasing an additional 144,161 shares during the period. Institutional investors own 50.08% of the company's stock.
About Global Ship Lease
(
Get Free Report)
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.
Further Reading
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