Global Ship Lease (NYSE:GSL) Hits New 52-Week High – Time to Buy?

Global Ship Lease, Inc. (NYSE:GSL) hit a new 52-week high during trading on Monday . The company traded as high as $41.15 and last traded at $40.4780, with a volume of 93165 shares trading hands. The stock had previously closed at $41.08.

Wall Street Analyst Weigh In

GSL has been the topic of a number of research reports. Jefferies Financial Group boosted their price objective on Global Ship Lease from $33.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Zacks Research downgraded shares of Global Ship Lease from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 23rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Global Ship Lease in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $33.50.

Global Ship Lease Stock Performance

The business’s fifty day moving average price is $36.75 and its 200-day moving average price is $33.55. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.19 and a quick ratio of 2.14. The stock has a market capitalization of $1.46 billion, a PE ratio of 3.65 and a beta of 0.88.

Global Ship Lease Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Tuesday, February 24th will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date is Tuesday, February 24th. Global Ship Lease’s payout ratio is 22.44%.

Institutional Investors Weigh In On Global Ship Lease

Several large investors have recently added to or reduced their stakes in the business. Triumph Capital Management purchased a new position in Global Ship Lease during the third quarter worth about $25,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Global Ship Lease during the fourth quarter worth about $29,000. EverSource Wealth Advisors LLC grew its holdings in shares of Global Ship Lease by 77.2% during the third quarter. EverSource Wealth Advisors LLC now owns 989 shares of the shipping company’s stock worth $30,000 after purchasing an additional 431 shares in the last quarter. Hilton Head Capital Partners LLC bought a new position in shares of Global Ship Lease in the fourth quarter worth approximately $35,000. Finally, Avion Wealth purchased a new stake in Global Ship Lease in the third quarter valued at approximately $39,000. Institutional investors own 50.08% of the company’s stock.

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.