Global Ship Lease (NYSE:GSL) Hits New 1-Year High at $23.01

Global Ship Lease, Inc. (NYSE:GSL)’s share price reached a new 52-week high on Monday . The stock traded as high as $23.01 and last traded at $22.94, with a volume of 154024 shares changing hands. The stock had previously closed at $22.81.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on GSL shares. StockNews.com downgraded Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 23rd. Jefferies Financial Group reiterated a “buy” rating and set a $25.00 price objective on shares of Global Ship Lease in a research report on Monday, March 4th.

Global Ship Lease Stock Performance

The firm has a market capitalization of $809.02 million, a P/E ratio of 2.73 and a beta of 1.50. The firm has a 50-day moving average price of $20.57 and a two-hundred day moving average price of $19.68. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.00.

Global Ship Lease (NYSE:GSL) last posted its quarterly earnings results on Monday, March 4th. The shipping company reported $2.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $178.89 million for the quarter, compared to the consensus estimate of $171.54 million. During the same quarter in the prior year, the company earned $2.14 EPS. On average, analysts forecast that Global Ship Lease, Inc. will post 9.4 EPS for the current fiscal year.

Global Ship Lease Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 22nd were paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 6.52%. The ex-dividend date of this dividend was Wednesday, February 21st. Global Ship Lease’s dividend payout ratio (DPR) is presently 18.01%.

Institutional Trading of Global Ship Lease

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Whittier Trust Co. acquired a new stake in shares of Global Ship Lease in the fourth quarter valued at about $40,000. Signaturefd LLC grew its holdings in Global Ship Lease by 87.6% in the 4th quarter. Signaturefd LLC now owns 2,024 shares of the shipping company’s stock valued at $40,000 after buying an additional 945 shares in the last quarter. Quadrant Capital Group LLC increased its stake 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 worth $142,000 after acquiring an additional 4,314 shares during the last quarter. Clear Street Markets LLC purchased a new position in shares of Global Ship Lease during the 4th quarter worth $172,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of Global Ship Lease during the 4th quarter valued at about $201,000. Institutional investors and hedge funds own 50.08% of the company’s stock.

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.