Global Ship Lease (NYSE:GSL) Raised to Strong-Buy at Clarkson Capital

Global Ship Lease (NYSE:GSL - Get Free Report) was upgraded by analysts at Clarkson Capital from a "hold" rating to a "strong-buy" rating in a research report issued on Wednesday,Zacks.com reports.

Several other research analysts have also commented on the stock. StockNews.com lowered shares of Global Ship Lease from a "strong-buy" rating to a "buy" rating in a report on Friday, March 7th. Jefferies Financial Group reissued a "buy" rating and issued a $29.00 target price on shares of Global Ship Lease in a report on Wednesday, March 5th.

Global Ship Lease Trading Down 0.9 %

Shares of Global Ship Lease stock traded down $0.21 during trading on Wednesday, reaching $23.35. The company's stock had a trading volume of 229,873 shares, compared to its average volume of 439,064. The company has a market cap of $860.73 million, a price-to-earnings ratio of 2.59 and a beta of 1.47. The firm's 50-day moving average is $22.28 and its two-hundred day moving average is $23.02. 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 has a 52-week low of $19.73 and a 52-week high of $30.32.

Global Ship Lease (NYSE:GSL - Get Free Report) last issued its earnings results on Wednesday, March 5th. The shipping company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.25. The firm had revenue of $182.43 million for the quarter, compared to analysts' expectations of $170.71 million. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. On average, sell-side analysts anticipate that Global Ship Lease will post 9.74 earnings per share for the current year.

Institutional Investors Weigh In On Global Ship Lease

Large investors have recently made changes to their positions in the company. CIBC Private Wealth Group LLC lifted its position in 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. SBI Securities Co. Ltd. purchased a new stake in shares of Global Ship Lease during the 4th quarter worth approximately $37,000. Steward Partners Investment Advisory LLC bought a new position in Global Ship Lease during the fourth quarter valued at $46,000. R Squared Ltd bought a new position in shares of Global Ship Lease in the 4th quarter valued at about $50,000. Finally, WealthCollab LLC boosted its holdings in shares of Global Ship Lease by 64.1% in the 4th 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 period. 50.08% of the stock is currently owned by institutional investors.

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.