Global Ship Lease, Inc. (GSL) – What Are Brokerages Saying About This Stock?

Global Ship Lease, Inc. (NYSE:GSL) has been assigned a consensus recommendation of “Buy” from the five ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $51.00.

GSL has been the topic of a number of research analyst reports. Zacks Research upgraded shares of Global Ship Lease from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. Wall Street Zen cut Global Ship Lease from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Global Ship Lease in a research note on Thursday. Jefferies Financial Group lifted their target price on Global Ship Lease from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, B. Riley Financial increased their target price on Global Ship Lease from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, August 6th.

Insider Activity at Global Ship Lease

In other Global Ship Lease news, insider Georgios Giannopoulos sold 7,692 shares of the business’s stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $45.08, for a total transaction of $346,755.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ulrike Helfer sold 4,000 shares of the business’s stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $44.82, for a total value of $179,280.00. Following the sale, the director owned 8,503 shares in the company, valued at $381,104.46. This represents a 31.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 91,692 shares of company stock worth $4,104,852. Corporate insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On Global Ship Lease

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio bought a new stake in shares of Global Ship Lease in the 2nd quarter valued at $4,210,000. Sei Investments Co. boosted its holdings in Global Ship Lease by 51.8% during the first quarter. Sei Investments Co. now owns 200,806 shares of the shipping company’s stock worth $7,476,000 after purchasing an additional 68,535 shares during the last quarter. Donald Smith & CO. Inc. purchased a new stake in shares of Global Ship Lease during the second quarter valued at approximately $27,859,000. Navellier & Associates Inc. purchased a new position in shares of Global Ship Lease in the 2nd quarter worth about $1,857,000. Finally, SG Americas Securities LLC grew its position in shares of Global Ship Lease by 225.9% during the 1st quarter. SG Americas Securities LLC now owns 185,168 shares of the shipping company’s stock valued at $6,894,000 after acquiring an additional 128,351 shares during the period. Institutional investors and hedge funds own 50.08% of the company’s stock.

Global Ship Lease Trading Down 1.8%

Shares of GSL stock traded down $0.78 on Friday, reaching $41.23. The company had a trading volume of 314,135 shares, compared to its average volume of 336,330. The company has a 50-day moving average of $44.40 and a 200-day moving average of $41.32. The company has a current ratio of 2.13, a quick ratio of 2.06 and a debt-to-equity ratio of 0.27. The stock has a market cap of $1.48 billion, a PE ratio of 3.96 and a beta of 0.98. Global Ship Lease has a 12 month low of $27.81 and a 12 month high of $46.57.

Global Ship Lease (NYSE:GSL) last announced its quarterly earnings results on Wednesday, August 5th. The shipping company reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.06. Global Ship Lease had a net margin of 49.10% and a return on equity of 19.92%. The company had revenue of $198.69 million for the quarter, compared to analysts’ expectations of $186.85 million. During the same period last year, the firm posted $2.67 earnings per share. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, equities analysts forecast that Global Ship Lease will post 9.62 earnings per share for the current year.

Global Ship Lease Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Friday, August 21st were issued a $0.6250 dividend. The ex-dividend date of this dividend was Friday, August 21st. This represents a $2.50 dividend on an annualized basis and a dividend yield of 6.1%. Global Ship Lease’s dividend payout ratio is 24.04%.

Global Ship Lease Company Profile

Global Ship Lease, Inc (NYSE:GSL) is a containership owner and charterer that provides maritime transportation capacity to liner companies. The company owns and manages a fleet of container vessels designed to transport manufactured goods, consumer products, industrial materials and other containerized cargo across international trade routes.

Global Ship Lease generally employs time-charter arrangements, under which its vessels are leased to container shipping companies for specified periods.