Hsbc Holdings PLC Takes Position in Global Ship Lease, Inc. $GSL

Hsbc Holdings PLC acquired a new position in shares of Global Ship Lease, Inc. (NYSE:GSL) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 16,165 shares of the shipping company’s stock, valued at approximately $600,000.

Several other institutional investors have also made changes to their positions in GSL. Triumph Capital Management bought a new position in Global Ship Lease during the third quarter worth about $25,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Global Ship Lease during the fourth quarter valued at approximately $29,000. Hilton Head Capital Partners LLC bought a new stake in shares of Global Ship Lease in the 4th quarter valued at approximately $35,000. SHP Wealth Management bought a new stake in shares of Global Ship Lease in the 4th quarter valued at approximately $35,000. Finally, LOM Asset Management Ltd acquired a new position in shares of Global Ship Lease in the 4th quarter worth approximately $49,000. 50.08% of the stock is currently owned by institutional investors and hedge funds.

Global Ship Lease Stock Performance

NYSE GSL opened at $44.50 on Friday. Global Ship Lease, Inc. has a 1-year low of $27.28 and a 1-year high of $44.58. The company has a 50 day moving average of $39.35 and a 200-day moving average of $38.82. The company has a current ratio of 2.26, a quick ratio of 2.21 and a debt-to-equity ratio of 0.27. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 4.23 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 EPS for the quarter, topping the consensus estimate of $2.40 by $0.16. The business had revenue of $198.08 million for the quarter, compared to the consensus estimate of $182.87 million. Global Ship Lease had a return on equity of 21.11% and a net margin of 50.01%.Global Ship Lease’s revenue was up 3.7% compared to the same quarter last year. On average, equities analysts forecast that Global Ship Lease, Inc. will post 9.5 earnings per share for the current fiscal year.

Global Ship Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Friday, May 22nd were given a $0.625 dividend. The ex-dividend date was Friday, May 22nd. This represents a $2.50 annualized dividend and a yield of 5.6%. Global Ship Lease’s payout ratio is presently 23.74%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on GSL shares. Weiss Ratings restated a “buy (b)” rating on shares of Global Ship Lease in a research report on Friday, July 17th. Zacks Research upgraded Global Ship Lease from a “strong sell” rating to a “hold” rating in a research note on Monday. Fearnley Fonds raised Global Ship Lease from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Jefferies Financial Group began coverage on shares of Global Ship Lease in a research note on Friday, April 24th. They issued a “buy” rating and a $45.00 target price on the stock. Finally, Wall Street Zen raised shares of Global Ship Lease from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Global Ship Lease currently has a consensus rating of “Buy” and an average target price of $46.50.

Global Ship Lease 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.