Global Ship Lease (NYSE:GSL) Reaches New 12-Month High – Here’s Why

Shares of Global Ship Lease, Inc. (NYSE:GSL) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $38.69 and last traded at $38.3410, with a volume of 55999 shares trading hands. The stock had previously closed at $38.15.

Wall Street Analysts Forecast Growth

GSL has been the topic of several analyst reports. Jefferies Financial Group lifted their target price on Global Ship Lease from $33.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Global Ship Lease in a research note on Thursday, January 22nd. Finally, Zacks Research lowered shares of Global Ship Lease from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 23rd. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Global Ship Lease has a consensus rating of “Moderate Buy” and an average target price of $33.50.

Global Ship Lease Trading Up 1.4%

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 firm has a market cap of $1.38 billion, a P/E ratio of 3.47 and a beta of 0.93. The firm’s 50-day simple moving average is $35.77 and its 200 day simple moving average is $32.92.

Global Ship Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Tuesday, February 24th will be issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 6.5%. The ex-dividend date of this dividend is Tuesday, February 24th. Global Ship Lease’s dividend payout ratio is 22.44%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GSL. Triumph Capital Management purchased a new stake in Global Ship Lease in the 3rd quarter worth about $25,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Global Ship Lease in the fourth quarter worth about $29,000. EverSource Wealth Advisors LLC raised its position in shares of Global Ship Lease by 77.2% in the third quarter. EverSource Wealth Advisors LLC now owns 989 shares of the shipping company’s stock valued at $30,000 after purchasing an additional 431 shares during the period. Hilton Head Capital Partners LLC bought a new stake in shares of Global Ship Lease in the fourth quarter valued at approximately $35,000. Finally, Avion Wealth purchased a new stake in shares of Global Ship Lease during the 3rd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 50.08% of the company’s stock.

About Global Ship Lease

Global Ship Lease (NYSE: GSL) is a Bermuda-based containership charter owner focused on acquiring, owning and leasing modern, fuel-efficient vessels to major liner operators. Founded in 2011 and listed on the New York Stock Exchange the same year, the company’s fleet primarily comprises post-Panamax containerships designed to serve the high-volume Asia–Europe and transpacific shipping lanes. By specializing in long-term charter agreements, Global Ship Lease aims to maintain stable revenue streams and minimize spot-market volatility.

The company’s business model centers on negotiating multi-year time charters with leading global shipping lines.