Global Ship Lease (NYSE:GSL) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of Global Ship Lease (NYSE:GSLFree Report) from a buy rating to a hold rating in a research note published on Saturday morning.

A number of other research analysts have also weighed in on the company. Jefferies Financial Group raised their price objective on Global Ship Lease from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday. B. Riley Financial increased their price target on Global Ship Lease from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday. Weiss Ratings restated a “buy (b)” rating on shares of Global Ship Lease in a report on Friday, July 17th. Zacks Research raised Global Ship Lease from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Finally, Fearnley Fonds raised Global Ship Lease from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Global Ship Lease currently has an average rating of “Buy” and an average price target of $51.00.

Read Our Latest Analysis on GSL

Global Ship Lease Price Performance

GSL stock opened at $42.27 on Friday. Global Ship Lease has a one year low of $27.28 and a one year high of $44.69. The company’s fifty day moving average price is $40.08 and its 200-day moving average price is $39.11. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.21 and a current ratio of 2.13. The company has a market capitalization of $1.52 billion, a PE ratio of 4.06 and a beta of 0.90.

Global Ship Lease (NYSE:GSLGet Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The shipping company reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.06. The company had revenue of $198.69 million for the quarter, compared to the consensus estimate of $186.85 million. Global Ship Lease had a net margin of 49.10% and a return on equity of 19.92%. Global Ship Lease’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.67 EPS. On average, equities analysts anticipate that Global Ship Lease will post 9.62 EPS for the current fiscal year.

Global Ship Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Friday, August 21st will be paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 5.9%. The ex-dividend date of this dividend is Friday, August 21st. Global Ship Lease’s payout ratio is presently 24.04%.

Institutional Investors Weigh In On Global Ship Lease

Several institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its position in shares of Global Ship Lease by 137.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 42,098 shares of the shipping company’s stock valued at $962,000 after purchasing an additional 24,333 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Global Ship Lease by 66.1% in the second quarter. Russell Investments Group Ltd. now owns 4,715 shares of the shipping company’s stock worth $124,000 after buying an additional 1,877 shares during the last quarter. Jump Financial LLC boosted its stake in Global Ship Lease by 88.2% during the second quarter. Jump Financial LLC now owns 51,616 shares of the shipping company’s stock worth $1,358,000 after buying an additional 24,196 shares during the period. Qube Research & Technologies Ltd boosted its stake in Global Ship Lease by 4.7% during the second quarter. Qube Research & Technologies Ltd now owns 459,791 shares of the shipping company’s stock worth $12,097,000 after buying an additional 20,819 shares during the period. Finally, NewEdge Advisors LLC increased its position in Global Ship Lease by 7.1% during the second quarter. NewEdge Advisors LLC now owns 16,927 shares of the shipping company’s stock valued at $445,000 after acquiring an additional 1,127 shares during the last quarter. 50.08% of the stock is owned by institutional investors.

Global Ship Lease Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Global Ship Lease (NYSE:GSL)

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