Global Ship Lease (NYSE:GSL) Lowered to Neutral Rating by Clarkson Capital

Global Ship Lease (NYSE:GSL) was downgraded by equities researchers at Clarkson Capital from a “buy” rating to a “neutral” rating in a research note issued on Thursday,Briefing.com Automated Import reports. They currently have a $27.00 price target on the shipping company’s stock. Clarkson Capital’s price objective indicates a potential upside of 10.54% from the stock’s current price.

GSL has been the topic of a number of other reports. StockNews.com downgraded shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 25th. Jefferies Financial Group reissued a “buy” rating and set a $29.00 price target on shares of Global Ship Lease in a research report on Monday.

Global Ship Lease Stock Performance

Shares of NYSE:GSL opened at $24.43 on Thursday. The firm’s 50 day simple moving average is $24.53 and its 200-day simple moving average is $25.95. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.42. Global Ship Lease has a one year low of $17.40 and a one year high of $30.32. The firm has a market cap of $900.31 million, a PE ratio of 2.70 and a beta of 1.62.

Global Ship Lease (NYSE:GSL) last issued its earnings results on Monday, November 11th. The shipping company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.02. The business had revenue of $174.06 million during the quarter, compared to analysts’ expectations of $175.83 million. Global Ship Lease had a return on equity of 28.59% and a net margin of 46.38%. During the same period in the prior year, the business earned $2.33 EPS. As a group, equities analysts predict that Global Ship Lease will post 9.85 EPS for the current year.

Institutional Investors Weigh In On Global Ship Lease

Large investors have recently modified their holdings of the business. Janney Montgomery Scott LLC grew its holdings in shares of Global Ship Lease by 10.4% during the first 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. Donald Smith & CO. Inc. grew its stake in Global Ship Lease by 62.0% during the 1st quarter. Donald Smith & CO. Inc. now owns 2,533,701 shares of the shipping company’s stock valued at $51,434,000 after purchasing an additional 969,536 shares during the last quarter. MQS Management LLC acquired a new position in shares of Global Ship Lease in the first quarter valued at about $253,000. Tidal Investments LLC increased its holdings in shares of Global Ship Lease by 14.8% in the first 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 period. Finally, Whitefort Capital Management LP raised its stake in shares of Global Ship Lease by 4.2% in the first quarter. Whitefort Capital Management LP now owns 1,977,224 shares of the shipping company’s stock worth $40,138,000 after purchasing an additional 79,743 shares during the last quarter. Hedge funds and other institutional investors 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.