Global Ship Lease (NYSE:GSL) Sets New 52-Week High at $23.40

Global Ship Lease, Inc. (NYSE:GSL)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $23.40 and last traded at $23.40, with a volume of 52978 shares changing hands. The stock had previously closed at $23.14.

Analyst Ratings Changes

GSL has been the topic of a number of recent analyst reports. StockNews.com raised shares of Global Ship Lease from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 1st. Jefferies Financial Group reiterated a “buy” rating and issued a $25.00 target price on shares of Global Ship Lease in a report on Monday, March 4th.

Global Ship Lease Price Performance

The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 0.52. The company’s fifty day moving average is $20.85 and its 200 day moving average is $19.86. The stock has a market cap of $820.28 million, a PE ratio of 2.78 and a beta of 1.46.

Global Ship Lease (NYSE:GSL) last issued its earnings results on Monday, March 4th. The shipping company reported $2.49 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.15. Global Ship Lease had a net margin of 45.12% and a return on equity of 29.87%. The business had revenue of $178.89 million for the quarter, compared to the consensus estimate of $171.54 million. During the same quarter last year, the firm posted $2.14 EPS. As a group, sell-side analysts anticipate that Global Ship Lease, Inc. will post 9.4 earnings per share for the current fiscal year.

Global Ship Lease Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 22nd were paid a $0.375 dividend. The ex-dividend date was Wednesday, February 21st. This represents a $1.50 dividend on an annualized basis and a dividend yield of 6.44%. Global Ship Lease’s dividend payout ratio (DPR) is currently 18.01%.

Hedge Funds Weigh In On Global Ship Lease

Several hedge funds and other institutional investors have recently bought and sold shares of GSL. GSA Capital Partners LLP lifted its position in shares of Global Ship Lease by 6.7% during the first quarter. GSA Capital Partners LLP now owns 62,426 shares of the shipping company’s stock worth $1,267,000 after purchasing an additional 3,941 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Global Ship Lease by 10.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 28,751 shares of the shipping company’s stock worth $584,000 after buying an additional 2,703 shares during the period. Crescent Grove Advisors LLC lifted its holdings in Global Ship Lease by 23.2% in the 1st quarter. Crescent Grove Advisors LLC now owns 78,240 shares of the shipping company’s stock worth $1,588,000 after buying an additional 14,725 shares in the last quarter. BluePath Capital Management LLC purchased a new position in Global Ship Lease in the 1st quarter valued at about $559,000. Finally, ARGA Investment Management LP acquired a new stake in shares of Global Ship Lease during the first quarter valued at about $1,227,000. 50.08% of the stock is owned by institutional investors and hedge funds.

About Global Ship Lease

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.