Global Ship Lease (NYSE:GSL) Sets New 12-Month High at $21.95

Global Ship Lease, Inc. (NYSE:GSL) shares hit a new 52-week high on Monday . The stock traded as high as $21.95 and last traded at $21.87, with a volume of 622488 shares traded. The stock had previously closed at $21.34.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. StockNews.com cut shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $25.00 price target on shares of Global Ship Lease in a report on Monday, March 4th.

Global Ship Lease Trading Up 0.8 %

The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.00 and a current ratio of 1.05. The firm has a market capitalization of $791.78 million, a price-to-earnings ratio of 2.68 and a beta of 1.50. The company has a 50 day moving average price of $20.44 and a two-hundred day moving average price of $19.59.

Global Ship Lease (NYSE:GSL) last issued its quarterly earnings results on Monday, March 4th. The shipping company reported $2.49 EPS for the quarter, topping the consensus estimate of $2.34 by $0.15. Global Ship Lease had a return on equity of 29.87% and a net margin of 45.12%. The firm had revenue of $178.89 million during the quarter, compared to analysts’ expectations of $171.54 million. During the same period in the previous year, the business earned $2.14 earnings per share. On average, research analysts forecast that Global Ship Lease, Inc. will post 9.4 EPS for the current year.

Global Ship Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 22nd were issued a $0.375 dividend. The ex-dividend date was Wednesday, February 21st. This represents a $1.50 dividend on an annualized basis and a dividend yield of 6.67%. Global Ship Lease’s payout ratio is currently 18.01%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. grew its stake in Global Ship Lease by 235.9% during the 4th quarter. Donald Smith & CO. Inc. now owns 1,564,165 shares of the shipping company’s stock worth $31,002,000 after buying an additional 1,098,558 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in Global Ship Lease during the 4th quarter worth approximately $21,588,000. Foundry Partners LLC grew its stake in shares of Global Ship Lease by 19.8% in the 3rd quarter. Foundry Partners LLC now owns 306,024 shares of the shipping company’s stock valued at $5,612,000 after purchasing an additional 50,680 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Global Ship Lease by 2.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 129,586 shares of the shipping company’s stock valued at $2,377,000 after purchasing an additional 3,356 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in shares of Global Ship Lease by 47.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 106,676 shares of the shipping company’s stock valued at $1,956,000 after purchasing an additional 34,313 shares during the last quarter. Hedge funds and other institutional investors own 50.08% of the company’s stock.

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.