Global Ship Lease (NYSE:GSL) Stock Rating Upgraded by StockNews.com

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

GSL has been the subject of several other reports. Clarkson Capital raised Global Ship Lease from a "neutral" rating to a "buy" rating in a research note on Thursday. Jefferies Financial Group reissued a "buy" rating and set a $29.00 price objective on shares of Global Ship Lease in a research report on Monday, August 5th.

Global Ship Lease Trading Up 1.3 %

NYSE:GSL traded up $0.36 on Monday, reaching $27.03. 269,722 shares of the company's stock were exchanged, compared to its average volume of 652,594. The business has a fifty day moving average of $27.40 and a 200-day moving average of $23.98. The company has a quick ratio of 1.18, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. Global Ship Lease has a 52-week low of $16.80 and a 52-week high of $30.32. The firm has a market capitalization of $951.13 million, a price-to-earnings ratio of 3.05 and a beta of 1.64.

Global Ship Lease (NYSE:GSL - Get Free Report) last released its earnings results on Monday, August 5th. The shipping company reported $2.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.27 by $0.19. The company had revenue of $175.00 million for the quarter, compared to analyst estimates of $172.07 million. Global Ship Lease had a net margin of 46.30% and a return on equity of 29.44%. During the same period in the prior year, the business earned $2.09 EPS. As a group, analysts expect that Global Ship Lease will post 9.52 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Signaturefd LLC lifted its stake in Global Ship Lease by 87.6% during the fourth quarter. Signaturefd LLC now owns 2,024 shares of the shipping company's stock worth $40,000 after purchasing an additional 945 shares during the last quarter. Mather Group LLC. purchased a new stake in shares of Global Ship Lease during the 2nd quarter worth approximately $88,000. Blue Trust Inc. boosted its holdings in shares of Global Ship Lease by 2,642.1% in the 2nd quarter. Blue Trust Inc. now owns 3,126 shares of the shipping company's stock valued at $90,000 after buying an additional 3,012 shares in the last quarter. nVerses Capital LLC boosted its holdings in shares of Global Ship Lease by 355.6% in the 2nd quarter. nVerses Capital LLC now owns 4,100 shares of the shipping company's stock valued at $118,000 after buying an additional 3,200 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its position in shares of Global Ship Lease by 150.2% in the 4th quarter. Quadrant Capital Group LLC now owns 7,186 shares of the shipping company's stock valued at $142,000 after buying an additional 4,314 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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