Shares of Global Ship Lease, Inc. (NYSE:GSL – Get Free Report) have been given a consensus recommendation of “Buy” by the five brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $51.00.
A number of research analysts recently issued reports on GSL shares. Wall Street Zen cut shares of Global Ship Lease from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. B. Riley Financial increased their target price on shares of Global Ship Lease from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Zacks Research raised shares of Global Ship Lease from a “strong sell” rating to a “hold” rating in a research report on Monday, July 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Global Ship Lease in a report on Friday, July 17th. Finally, Jefferies Financial Group upped their price objective on shares of Global Ship Lease from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, August 6th.
Read Our Latest Stock Analysis on Global Ship Lease
Global Ship Lease Price Performance
Global Ship Lease (NYSE:GSL – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The shipping company reported $2.48 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.06. The company had revenue of $198.69 million during the quarter, compared to analysts’ expectations of $186.85 million. Global Ship Lease had a return on equity of 19.92% and a net margin of 49.10%.Global Ship Lease’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.67 EPS. On average, equities analysts anticipate that Global Ship Lease will post 9.62 EPS for the current year.
Global Ship Lease Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Friday, August 21st were issued a dividend of $0.625 per share. The ex-dividend date was Friday, August 21st. This represents a $2.50 annualized dividend and a yield of 5.5%. Global Ship Lease’s payout ratio is currently 24.04%.
Insider Transactions at Global Ship Lease
In other Global Ship Lease news, CFO Anastasios Psaropoulos sold 48,330 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $45.02, for a total value of $2,175,816.60. Following the completion of the transaction, the chief financial officer directly owned 68,698 shares of the company’s stock, valued at approximately $3,092,783.96. The trade was a 41.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas Lister sold 30,000 shares of the stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $44.26, for a total value of $1,327,800.00. Following the completion of the sale, the chief executive officer owned 15,934 shares of the company’s stock, valued at $705,238.84. This trade represents a 65.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 80,000 shares of company stock valued at $3,578,817. Insiders own 7.40% of the company’s stock.
Institutional Trading of Global Ship Lease
A number of large investors have recently bought and sold shares of GSL. Goldman Sachs Group Inc. raised its holdings in 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 worth $962,000 after buying an additional 24,333 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of 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 valued at $124,000 after buying an additional 1,877 shares during the period. Jump Financial LLC increased its position in shares of 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 acquiring an additional 24,196 shares in the last quarter. Qube Research & Technologies Ltd increased its position in shares of 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 acquiring an additional 20,819 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Global Ship Lease by 7.1% during the second quarter. NewEdge Advisors LLC now owns 16,927 shares of the shipping company’s stock worth $445,000 after acquiring an additional 1,127 shares during the period. 50.08% of the stock is owned by institutional investors.
Global Ship Lease Company Profile
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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