StockNews.com upgraded shares of Global Ship Lease (NYSE:GSL – Free Report) from a buy rating to a strong-buy rating in a research note released on Wednesday morning.
Separately, 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.
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Global Ship Lease Price Performance
Global Ship Lease (NYSE:GSL – Get Free Report) last issued its quarterly earnings results on Monday, March 4th. The shipping company reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.15. The firm had revenue of $178.89 million during the quarter, compared to the consensus estimate of $171.54 million. Global Ship Lease had a return on equity of 29.87% and a net margin of 45.12%. During the same period last year, the business posted $2.14 EPS. On average, sell-side analysts forecast that Global Ship Lease will post 9.4 EPS for the current year.
Global Ship Lease Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 22nd were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 6.48%. The ex-dividend date was Wednesday, February 21st. Global Ship Lease’s dividend payout ratio (DPR) is currently 18.01%.
Institutional Trading of Global Ship Lease
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GSL. Whittier Trust Co. acquired a new stake in Global Ship Lease in the fourth quarter valued at approximately $40,000. Signaturefd LLC grew its position in Global Ship Lease by 87.6% in the 4th quarter. Signaturefd LLC now owns 2,024 shares of the shipping company’s stock valued at $40,000 after purchasing an additional 945 shares during the period. Quadrant Capital Group LLC increased its stake in Global Ship Lease by 150.2% during the 4th quarter. Quadrant Capital Group LLC now owns 7,186 shares of the shipping company’s stock valued at $142,000 after purchasing an additional 4,314 shares in the last quarter. Clear Street Markets LLC acquired a new position in Global Ship Lease during the fourth quarter worth $172,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Global Ship Lease during the fourth quarter worth $201,000. 50.08% of the stock is owned by institutional investors.
Global Ship Lease Company Profile
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.
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