Global Ship Lease, Inc. (NYSE:GSL) Expected to Post Quarterly Sales of $70.77 Million


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Equities research analysts expect that Global Ship Lease, Inc. (NYSE:GSL) will announce $70.77 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Global Ship Lease’s earnings, with the highest sales estimate coming in at $70.85 million and the lowest estimate coming in at $70.68 million. Global Ship Lease reported sales of $70.95 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 0.3%. The business is expected to report its next quarterly earnings results on Tuesday, May 11th.

On average, analysts expect that Global Ship Lease will report full year sales of $318.38 million for the current financial year, with estimates ranging from $317.31 million to $319.45 million. For the next financial year, analysts forecast that the company will post sales of $347.87 million, with estimates ranging from $336.24 million to $359.51 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover Global Ship Lease.

Several research analysts have recently weighed in on GSL shares. Jefferies Financial Group started coverage on shares of Global Ship Lease in a report on Friday, February 12th. They issued a “buy” rating and a $18.00 price target for the company. Zacks Investment Research raised shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating and set a $15.00 price objective on the stock in a research report on Tuesday, March 9th. Finally, B. Riley raised their price target on shares of Global Ship Lease from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, January 15th. They noted that the move was a valuation call.

Shares of Global Ship Lease stock traded down $0.03 during trading on Monday, hitting $13.55. 1,304 shares of the company’s stock traded hands, compared to its average volume of 532,603. The company has a market cap of $491.63 million, a PE ratio of 12.02 and a beta of 1.97. Global Ship Lease has a twelve month low of $3.70 and a twelve month high of $17.85. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.04 and a quick ratio of 1.00. The firm’s fifty day moving average price is $14.41 and its 200 day moving average price is $11.77.

A number of institutional investors and hedge funds have recently bought and sold shares of GSL. BlackRock Inc. raised its stake in Global Ship Lease by 35.4% during the 3rd quarter. BlackRock Inc. now owns 8,621 shares of the shipping company’s stock valued at $59,000 after purchasing an additional 2,255 shares during the period. Vanguard Capital Wealth Advisors bought a new stake in Global Ship Lease in the 4th quarter worth approximately $365,000. Ahrens Investment Partners LLC bought a new stake in Global Ship Lease in the 4th quarter worth approximately $633,000. CHURCHILL MANAGEMENT Corp bought a new stake in Global Ship Lease in the 1st quarter worth approximately $1,766,000. Finally, Foundry Partners LLC increased its stake in Global Ship Lease by 4.4% in the 4th quarter. Foundry Partners LLC now owns 260,852 shares of the shipping company’s stock worth $3,102,000 after acquiring an additional 11,055 shares during the last quarter. Institutional investors and hedge funds own 32.93% of the company’s stock.

Global Ship Lease Company Profile

Global Ship Lease, Inc owns and charters containerships of various sizes under fixed-rate charters to container shipping companies. As of March 10, 2021, it owned 43 mid-sized and smaller containerships with an aggregate capacity of 245,280 twenty-foot equivalent units. The company is based in London, the United Kingdom.

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