Global Ship Lease (NYSE:GSL) Sets New 12-Month High – Still a Buy?

Shares of Global Ship Lease, Inc. (NYSE:GSL) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $40.59 and last traded at $40.2460, with a volume of 1955 shares. The stock had previously closed at $40.26.

Wall Street Analysts Forecast Growth

GSL has been the subject of several recent research reports. Zacks Research lowered Global Ship Lease from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 23rd. Jefferies Financial Group upped their price target on Global Ship Lease from $33.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Global Ship Lease in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Global Ship Lease currently has an average rating of “Moderate Buy” and a consensus price target of $33.50.

Global Ship Lease Trading Down 2.1%

The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.14 and a current ratio of 2.19. The company has a market capitalization of $1.41 billion, a P/E ratio of 3.54 and a beta of 0.93. The company has a 50-day simple moving average of $36.12 and a 200 day simple moving average of $33.21.

Global Ship Lease Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Tuesday, February 24th will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 6.3%. The ex-dividend date is Tuesday, February 24th. Global Ship Lease’s dividend payout ratio (DPR) is currently 22.44%.

Institutional Investors Weigh In On Global Ship Lease

Hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its holdings in Global Ship Lease by 137.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 42,098 shares of the shipping company’s stock valued at $962,000 after acquiring an additional 24,333 shares in the last quarter. Y Intercept Hong Kong Ltd increased its position in shares of Global Ship Lease by 60.4% during the second quarter. Y Intercept Hong Kong Ltd now owns 14,347 shares of the shipping company’s stock valued at $377,000 after purchasing an additional 5,402 shares during the period. Sigma Planning Corp raised its stake in shares of Global Ship Lease by 3.2% in the second quarter. Sigma Planning Corp now owns 19,250 shares of the shipping company’s stock valued at $506,000 after purchasing an additional 600 shares in the last quarter. Corton Capital Inc. bought a new position in Global Ship Lease in the second quarter worth $288,000. Finally, Moors & Cabot Inc. boosted its stake in Global Ship Lease by 90.3% during the second quarter. Moors & Cabot Inc. now owns 83,050 shares of the shipping company’s stock worth $2,185,000 after buying an additional 39,400 shares in the last quarter. Institutional investors own 50.08% of the company’s stock.

About Global Ship Lease

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.