StockNews.com Downgrades Global Ship Lease (NYSE:GSL) to Buy

Global Ship Lease (NYSE:GSL - Get Free Report) was downgraded by research analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a research note issued to investors on Friday.

Several other brokerages also recently weighed in on GSL. Jefferies Financial Group restated a "buy" rating and issued a $29.00 target price on shares of Global Ship Lease in a research note on Monday, August 5th. Clarkson Capital upgraded shares of Global Ship Lease from a "neutral" rating to a "buy" rating in a research note on Thursday, August 8th.

Global Ship Lease Trading Down 0.4 %

GSL traded down $0.10 during trading on Friday, hitting $23.93. 186,184 shares of the company's stock were exchanged, compared to its average volume of 567,751. The firm has a market cap of $882.06 million, a P/E ratio of 2.62 and a beta of 1.60. The stock has a 50 day moving average price of $24.91 and a 200 day moving average price of $25.71. The company has a current ratio of 1.42, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40. Global Ship Lease has a 1 year low of $16.80 and a 1 year high of $30.32.

Global Ship Lease (NYSE:GSL - Get Free Report) last announced its earnings results on Monday, August 5th. The shipping company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.19. The business had revenue of $175.00 million during the quarter, compared to the consensus estimate of $172.07 million. Global Ship Lease had a net margin of 46.90% and a return on equity of 28.92%. During the same period in the prior year, the firm earned $2.09 earnings per share. As a group, analysts expect that Global Ship Lease will post 9.9 EPS for the current fiscal year.

Institutional Trading of Global Ship Lease

Several institutional investors have recently added to or reduced their stakes in GSL. Signaturefd LLC raised its holdings in shares of Global Ship Lease by 23.3% during the second quarter. Signaturefd LLC now owns 2,526 shares of the shipping company's stock worth $73,000 after purchasing an additional 477 shares during the period. Mather Group LLC. acquired a new stake in shares of Global Ship Lease during the second quarter worth $88,000. Blue Trust Inc. raised its holdings in shares of Global Ship Lease by 2,642.1% during the second quarter. Blue Trust Inc. now owns 3,126 shares of the shipping company's stock worth $90,000 after purchasing an additional 3,012 shares during the period. Fairscale Capital LLC acquired a new stake in shares of Global Ship Lease during the second quarter worth $107,000. Finally, nVerses Capital LLC raised its holdings in shares of Global Ship Lease by 355.6% during the second quarter. nVerses Capital LLC now owns 4,100 shares of the shipping company's stock worth $118,000 after purchasing an additional 3,200 shares during the period. 50.08% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.