Global Ship Lease’s (GSL) Buy Rating Reiterated at Jefferies Financial Group

Global Ship Lease (NYSE:GSL)‘s stock had its “buy” rating reissued by equities research analysts at Jefferies Financial Group in a report released on Wednesday,Benzinga reports. They presently have a $29.00 price objective on the shipping company’s stock. Jefferies Financial Group’s target price suggests a potential upside of 25.90% from the stock’s current price.

A number of other analysts also recently commented on the company. Clarkson Capital downgraded Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 price objective on the stock. in a research note on Thursday, November 14th. StockNews.com upgraded shares of Global Ship Lease from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 25th.

Global Ship Lease Stock Performance

Shares of NYSE:GSL traded up $1.72 on Wednesday, hitting $23.04. The company’s stock had a trading volume of 1,008,645 shares, compared to its average volume of 358,283. The company has a market capitalization of $849.12 million, a price-to-earnings ratio of 2.55 and a beta of 1.53. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.58 and a current ratio of 1.64. Global Ship Lease has a 12 month low of $19.22 and a 12 month high of $30.32. The stock’s 50-day moving average is $21.95 and its two-hundred day moving average is $23.21.

Global Ship Lease (NYSE:GSL) last released its quarterly earnings results on Wednesday, March 5th. The shipping company reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.25. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. On average, equities research analysts forecast that Global Ship Lease will post 9.74 EPS for the current year.

Hedge Funds Weigh In On Global Ship Lease

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its position in shares of Global Ship Lease by 126.1% in the third quarter. Janney Montgomery Scott LLC now owns 90,840 shares of the shipping company’s stock worth $2,421,000 after buying an additional 50,660 shares during the period. Point72 Asset Management L.P. purchased a new stake in Global Ship Lease in the 3rd quarter worth approximately $712,000. Foundry Partners LLC boosted its stake in shares of Global Ship Lease by 45.2% during the 3rd quarter. Foundry Partners LLC now owns 475,956 shares of the shipping company’s stock valued at $12,684,000 after buying an additional 148,247 shares during the period. DGS Capital Management LLC grew its holdings in shares of Global Ship Lease by 125.1% during the 4th quarter. DGS Capital Management LLC now owns 46,158 shares of the shipping company’s stock valued at $1,008,000 after acquiring an additional 25,651 shares in the last quarter. Finally, Moran Wealth Management LLC acquired a new position in shares of Global Ship Lease in the third quarter worth $2,894,000. 50.08% of the stock is currently owned by hedge funds and other institutional investors.

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.