Global Ship Lease (NYSE:GSL) PT Raised to $29.00

Global Ship Lease (NYSE:GSLFree Report) had its price objective lifted by Jefferies Financial Group from $26.00 to $29.00 in a research report released on Thursday morning, Benzinga reports. They currently have a buy rating on the shipping company’s stock.

Separately, lowered Global Ship Lease from a strong-buy rating to a buy rating in a research report on Monday, May 13th.

Read Our Latest Stock Report on Global Ship Lease

Global Ship Lease Trading Up 1.7 %

Shares of GSL stock opened at $26.79 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.00 and a current ratio of 1.05. Global Ship Lease has a fifty-two week low of $16.80 and a fifty-two week high of $26.96. The company has a market cap of $942.74 million, a PE ratio of 3.03 and a beta of 1.46. The stock’s fifty day moving average price is $21.79 and its two-hundred day moving average price is $20.34.

Global Ship Lease (NYSE:GSLGet Free Report) last posted its 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 net margin of 46.30% and a return on equity of 30.26%. The business had revenue of $178.89 million for the quarter, compared to the consensus estimate of $171.54 million. During the same period last year, the company earned $2.14 EPS. Equities analysts predict that Global Ship Lease will post 9.61 EPS for the current fiscal year.

Global Ship Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 24th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 5.60%. The ex-dividend date of this dividend is Thursday, May 23rd. Global Ship Lease’s dividend payout ratio (DPR) is presently 16.95%.

Institutional Trading of Global Ship Lease

Large investors have recently modified their holdings of the stock. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in Global Ship Lease in the fourth quarter worth $21,588,000. Kestra Private Wealth Services LLC acquired a new stake in shares of Global Ship Lease in the 4th quarter valued at about $797,000. Allworth Financial LP bought a new stake in Global Ship Lease in the 4th quarter valued at about $369,000. Corton Capital Inc. acquired a new position in Global Ship Lease during the 3rd quarter worth approximately $329,000. Finally, Janney Montgomery Scott LLC boosted its holdings in Global Ship Lease by 2.7% in the third quarter. Janney Montgomery Scott LLC now owns 23,037 shares of the shipping company’s stock worth $423,000 after acquiring an additional 603 shares in the last quarter. Institutional investors and hedge funds own 50.08% of the company’s stock.

Global Ship Lease Company Profile

(Get Free Report)

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.

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