ValuEngine Downgrades Global Ship Lease (NYSE:GSL) to Strong Sell

Global Ship Lease (NYSE:GSL) was downgraded by equities research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued to investors on Tuesday, ValuEngine reports.

Separately, Zacks Investment Research raised shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating and set a $7.75 price objective for the company in a research report on Monday, June 3rd.

GSL stock traded up $0.05 during midday trading on Tuesday, hitting $6.90. The company’s stock had a trading volume of 1,220 shares, compared to its average volume of 14,604. The firm has a market capitalization of $68.10 million, a P/E ratio of 3.92 and a beta of 0.96. The firm has a 50-day simple moving average of $6.97 and a 200-day simple moving average of $6.01. Global Ship Lease has a 52-week low of $4.00 and a 52-week high of $11.20. The company has a quick ratio of 0.90, a current ratio of 0.96 and a debt-to-equity ratio of 2.36.

Global Ship Lease (NYSE:GSL) last released its quarterly earnings data on Thursday, August 1st. The shipping company reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.19). The firm had revenue of $63.09 million for the quarter. Global Ship Lease had a positive return on equity of 8.60% and a negative net margin of 22.25%.

Several institutional investors have recently added to or reduced their stakes in GSL. Deutsche Bank AG purchased a new stake in shares of Global Ship Lease during the 4th quarter worth $186,000. Renaissance Technologies LLC lifted its position in shares of Global Ship Lease by 11.8% during the 2nd quarter. Renaissance Technologies LLC now owns 252,975 shares of the shipping company’s stock worth $1,866,000 after purchasing an additional 26,750 shares during the last quarter. Clear Harbor Asset Management LLC lifted its position in shares of Global Ship Lease by 131.0% during the 2nd quarter. Clear Harbor Asset Management LLC now owns 40,170 shares of the shipping company’s stock worth $296,000 after purchasing an additional 22,781 shares during the last quarter. Finally, BlackRock Inc. purchased a new stake in shares of Global Ship Lease during the 2nd quarter worth $110,000. 4.71% of the stock is owned by institutional investors and hedge funds.

About Global Ship Lease

Global Ship Lease, Inc owns and charters containerships of various sizes under fixed-rate charters to container shipping companies. As of December 31, 2018, it owned 38 vessels with a total capacity of 200,615 twenty-foot equivalent units. The company is based in London, the United Kingdom.

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