Global Ship Lease (NYSE:GSL) Reaches New 1-Year High – Still a Buy?

by · The Cerbat Gem

Global Ship Lease, Inc. (NYSE:GSL – Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $36.88 and last traded at $36.9550, with a volume of 41762 shares trading hands. The stock had previously closed at $36.18.

Wall Street Analysts Forecast Growth

GSL has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Global Ship Lease in a research note on Wednesday, October 8th. Jefferies Financial Group lifted their price target on Global Ship Lease from $33.00 to $39.00 and gave the company a “buy” rating in a report on Monday, November 10th. Finally, Zacks Research raised shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $33.50.

View Our Latest Report on GSL

Global Ship Lease Trading Down 1.5%

The company has a quick ratio of 2.14, a current ratio of 2.19 and a debt-to-equity ratio of 0.34. The company has a market cap of $1.29 billion, a P/E ratio of 3.23 and a beta of 0.98. The business has a 50-day moving average price of $31.96 and a two-hundred day moving average price of $29.79.

Global Ship Lease (NYSE:GSL – Get Free Report) last posted its quarterly earnings results on Wednesday, November 12th. The shipping company reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.35. The business had revenue of $192.67 million for the quarter, compared to analysts’ expectations of $180.36 million. Global Ship Lease had a return on equity of 23.98% and a net margin of 53.62%.The business’s quarterly revenue was up 10.7% on a year-over-year basis. On average, analysts predict that Global Ship Lease, Inc. will post 9.74 EPS for the current year.

Global Ship Lease Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Friday, November 21st were issued a $0.625 dividend. This is an increase from Global Ship Lease’s previous quarterly dividend of $0.55. This represents a $2.50 annualized dividend and a yield of 7.0%. The ex-dividend date was Friday, November 21st. Global Ship Lease’s dividend payout ratio (DPR) is currently 22.44%.

Institutional Trading of Global Ship Lease

Several institutional investors and hedge funds have recently made changes to their positions in the business. Triumph Capital Management bought a new position in shares of Global Ship Lease in the 3rd quarter worth $25,000. Farther Finance Advisors LLC bought a new position in Global Ship Lease during the second quarter worth about $26,000. EverSource Wealth Advisors LLC increased its stake in shares of Global Ship Lease by 77.2% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 989 shares of the shipping company’s stock valued at $30,000 after acquiring an additional 431 shares during the last quarter. Avion Wealth acquired a new stake in shares of Global Ship Lease in the 3rd quarter valued at approximately $39,000. Finally, SVB Wealth LLC acquired a new stake in shares of Global Ship Lease in the 1st quarter valued at approximately $33,000. Institutional investors own 50.08% of the company’s stock.

About Global Ship Lease

(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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