Global Ship Lease (NYSE:GSL) Stock Rating Lowered by Zacks Research

Global Ship Lease (NYSE:GSL) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other equities analysts also recently issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Global Ship Lease in a research note on Thursday, January 22nd. B. Riley Financial lifted their target price on shares of Global Ship Lease from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. Finally, Wall Street Zen downgraded Global Ship Lease from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $38.33.

Global Ship Lease Stock Down 2.4%

GSL opened at $37.80 on Thursday. The firm has a market cap of $1.35 billion, a P/E ratio of 3.32 and a beta of 0.88. The business’s fifty day simple moving average is $37.85 and its 200 day simple moving average is $34.41. Global Ship Lease has a 52 week low of $17.73 and a 52 week high of $41.40. The company has a quick ratio of 2.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.30.

Global Ship Lease (NYSE:GSL) last announced its earnings results on Friday, March 6th. The shipping company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.01. The firm had revenue of $190.95 million during the quarter, compared to the consensus estimate of $188.39 million. Global Ship Lease had a net margin of 54.33% and a return on equity of 22.35%. The company’s revenue was up 4.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Global Ship Lease will post 9.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Global Ship Lease

A number of large investors have recently bought and sold shares of the stock. SHP Wealth Management acquired a new position in shares of Global Ship Lease in the 4th quarter valued at $35,000. DGS Capital Management LLC increased its holdings in shares of Global Ship Lease by 19.1% during the 4th quarter. DGS Capital Management LLC now owns 46,459 shares of the shipping company’s stock worth $1,628,000 after buying an additional 7,461 shares during the last quarter. Corient Private Wealth LLC raised its position in shares of Global Ship Lease by 11.5% in the 4th quarter. Corient Private Wealth LLC now owns 16,606 shares of the shipping company’s stock worth $582,000 after buying an additional 1,712 shares during the period. NewEdge Advisors LLC raised its position in shares of Global Ship Lease by 4.8% in the 4th quarter. NewEdge Advisors LLC now owns 20,973 shares of the shipping company’s stock worth $735,000 after buying an additional 970 shares during the period. Finally, Voloridge Investment Management LLC boosted its holdings in Global Ship Lease by 18.0% in the fourth quarter. Voloridge Investment Management LLC now owns 207,092 shares of the shipping company’s stock valued at $7,257,000 after acquiring an additional 31,578 shares during the last quarter. Hedge funds and other 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.