Jefferies Financial Group Reiterates “Buy” Rating for Global Ship Lease (NYSE:GSL)

Jefferies Financial Group reiterated their buy rating on shares of Global Ship Lease (NYSE:GSL) in a report issued on Monday morning, Benzinga reports. Jefferies Financial Group currently has a $29.00 price objective on the shipping company’s stock.

Separately, StockNews.com lowered Global Ship Lease from a strong-buy rating to a buy rating in a research note on Tuesday, July 23rd.

Global Ship Lease Trading Up 6.4 %

Shares of GSL traded up $1.59 during trading hours on Monday, hitting $26.63. The company had a trading volume of 613,462 shares, compared to its average volume of 659,778. The firm has a market cap of $936.88 million, a P/E ratio of 3.01 and a beta of 1.64. The stock’s 50 day moving average price is $27.65 and its 200 day moving average price is $23.78. The company has a quick ratio of 1.18, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. Global Ship Lease has a 52-week low of $16.80 and a 52-week high of $30.32.

Global Ship Lease (NYSE:GSL) last posted its earnings results on Monday, August 5th. The shipping company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.19. The firm had revenue of $175.00 million for the quarter, compared to the consensus estimate of $172.07 million. Global Ship Lease had a return on equity of 29.44% and a net margin of 46.30%. During the same quarter in the prior year, the business earned $2.09 EPS. On average, research analysts predict that Global Ship Lease will post 9.52 EPS for the current year.

Global Ship Lease Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Friday, August 23rd will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 6.76%. This is a positive change from Global Ship Lease’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, August 23rd. Global Ship Lease’s dividend payout ratio (DPR) is presently 16.95%.

Institutional Investors Weigh In On Global Ship Lease

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Signaturefd LLC grew its stake in shares of Global Ship Lease by 23.3% in the 2nd quarter. Signaturefd LLC now owns 2,526 shares of the shipping company’s stock valued at $73,000 after buying an additional 477 shares during the period. Apollon Wealth Management LLC increased its position in shares of Global Ship Lease by 7.9% in the 4th quarter. Apollon Wealth Management LLC now owns 22,189 shares of the shipping company’s stock valued at $440,000 after purchasing an additional 1,620 shares during the last quarter. Tidal Investments LLC increased its position in shares of Global Ship Lease by 14.8% in the 1st quarter. Tidal Investments LLC now owns 15,832 shares of the shipping company’s stock valued at $321,000 after purchasing an additional 2,038 shares during the last quarter. Redhawk Wealth Advisors Inc. grew its position in shares of Global Ship Lease by 6.5% in the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 37,987 shares of the shipping company’s stock valued at $1,094,000 after buying an additional 2,313 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its position in shares of Global Ship Lease by 10.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 28,751 shares of the shipping company’s stock valued at $584,000 after buying an additional 2,703 shares during the last quarter. 50.08% of the stock is currently owned by institutional investors and hedge funds.

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.