Global Ship Lease (NYSE:GSL) Reaches New 1-Year High – Still a Buy?

Global Ship Lease, Inc. (NYSE:GSL)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $42.78 and last traded at $42.70, with a volume of 115581 shares. The stock had previously closed at $42.06.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on GSL shares. Zacks Research cut shares of Global Ship Lease from a “hold” rating to a “strong sell” rating in a research report on Wednesday, June 3rd. Wall Street Zen upgraded Global Ship Lease from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Global Ship Lease in a research report on Friday, July 17th. Fearnley Fonds upgraded shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Finally, Jefferies Financial Group assumed coverage on shares of Global Ship Lease in a research note on Friday, April 24th. They issued a “buy” rating and a $45.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $46.50.

Global Ship Lease Trading Up 1.5%

The company has a quick ratio of 2.21, a current ratio of 2.26 and a debt-to-equity ratio of 0.27. The stock’s 50 day moving average is $39.14 and its two-hundred day moving average is $38.57. The company has a market capitalization of $1.57 billion, a PE ratio of 4.15 and a beta of 0.90.

Global Ship Lease (NYSE:GSL) last announced its earnings results on Friday, May 22nd. The shipping company reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.16. The business had revenue of $198.08 million for the quarter, compared to analysts’ expectations of $182.87 million. Global Ship Lease had a return on equity of 21.11% and a net margin of 50.01%.The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, sell-side analysts predict that Global Ship Lease, Inc. will post 9.5 EPS for the current fiscal year.

Global Ship Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Friday, May 22nd were given a dividend of $0.625 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $2.50 dividend on an annualized basis and a yield of 5.7%. Global Ship Lease’s dividend payout ratio (DPR) is presently 23.74%.

Institutional Trading of Global Ship Lease

Institutional investors have recently modified their holdings of the company. Two Sigma Investments LP boosted its stake in Global Ship Lease by 2.7% in the third quarter. Two Sigma Investments LP now owns 626,787 shares of the shipping company’s stock valued at $19,242,000 after acquiring an additional 16,188 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Global Ship Lease by 5.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 613,287 shares of the shipping company’s stock worth $16,136,000 after purchasing an additional 31,047 shares in the last quarter. Qube Research & Technologies Ltd grew its position in Global Ship Lease by 23.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 567,442 shares of the shipping company’s stock worth $17,420,000 after purchasing an additional 107,651 shares during the last quarter. CSM Advisors LLC increased its stake in Global Ship Lease by 3.0% during the 4th quarter. CSM Advisors LLC now owns 446,060 shares of the shipping company’s stock valued at $15,629,000 after purchasing an additional 13,141 shares in the last quarter. Finally, First Trust Advisors LP acquired a new position in Global Ship Lease during the 1st quarter valued at approximately $12,681,000. 50.08% of the stock is currently owned by institutional investors.

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.