Global Ship Lease (NYSE:GSL) Stock Rating Lowered by Zacks Research

Global Ship Lease (NYSE:GSL) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday,Zacks.com reports.

GSL has been the topic of a number of other reports. Weiss Ratings restated a “buy (b)” rating on shares of Global Ship Lease in a research note on Tuesday, April 21st. Jefferies Financial Group began coverage on shares of Global Ship Lease in a research note on Friday, April 24th. They issued a “buy” rating and a $45.00 price target on the stock. B. Riley Financial raised their price target on shares of Global Ship Lease from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Wall Street Zen upgraded shares of Global Ship Lease from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Finally, Fearnley Fonds upgraded shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Global Ship Lease has a consensus rating of “Moderate Buy” and a consensus price target of $46.50.

Global Ship Lease Trading Up 1.0%

GSL opened at $37.89 on Wednesday. The company’s 50 day moving average is $38.97 and its 200-day moving average is $37.44. Global Ship Lease has a 1-year low of $25.11 and a 1-year high of $42.70. The company has a current ratio of 2.26, a quick ratio of 2.21 and a debt-to-equity ratio of 0.27. The company has a market cap of $1.36 billion, a P/E ratio of 3.60 and a beta of 0.92.

Global Ship Lease (NYSE:GSL) last posted its quarterly earnings results on Friday, May 22nd. The shipping company reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.16. Global Ship Lease had a net margin of 50.01% and a return on equity of 21.11%. The company had revenue of $198.08 million for the quarter, compared to the consensus estimate of $182.87 million. Global Ship Lease’s revenue was up 3.7% on a year-over-year basis. Equities research analysts predict that Global Ship Lease will post 9.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Global Ship Lease news, insider Georgios Giannopoulos sold 7,692 shares of the business’s stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $38.51, for a total transaction of $296,218.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 7.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Global Ship Lease

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC grew its holdings in Global Ship Lease by 100.1% during the 4th quarter. SG Americas Securities LLC now owns 56,817 shares of the shipping company’s stock worth $1,991,000 after acquiring an additional 28,425 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new stake in Global Ship Lease during the 3rd quarter worth approximately $456,000. Royal Palms Capital LLC bought a new stake in Global Ship Lease during the 4th quarter worth approximately $3,665,000. JPMorgan Chase & Co. grew its holdings in Global Ship Lease by 9.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 168,327 shares of the shipping company’s stock worth $5,168,000 after acquiring an additional 14,424 shares during the last quarter. Finally, GSA Capital Partners LLP grew its holdings in Global Ship Lease by 39.7% during the 4th quarter. GSA Capital Partners LLP now owns 50,016 shares of the shipping company’s stock worth $1,753,000 after acquiring an additional 14,214 shares during the last quarter. 50.08% of the stock is owned by institutional investors.

Global Ship Lease Company Profile

Global Ship Lease (NYSE: GSL) is a Bermuda-based containership charter owner focused on acquiring, owning and leasing modern, fuel-efficient vessels to major liner operators. Founded in 2011 and listed on the New York Stock Exchange the same year, the company’s fleet primarily comprises post-Panamax containerships designed to serve the high-volume Asia–Europe and transpacific shipping lanes. By specializing in long-term charter agreements, Global Ship Lease aims to maintain stable revenue streams and minimize spot-market volatility.

The company’s business model centers on negotiating multi-year time charters with leading global shipping lines.