Global Ship Lease (NYSE:GSL) Stock Rating Lowered by Clarkson Capital

Global Ship Lease (NYSE:GSL) was downgraded by investment analysts at Clarkson Capital from a “strong-buy” rating to a “hold” rating in a report issued on Thursday, Marketbeat.com reports. They presently have a $28.00 price objective on the shipping company’s stock. Clarkson Capital’s target price would suggest a potential upside of 12.18% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Jefferies Financial Group increased their price target on shares of Global Ship Lease from $28.00 to $30.00 and gave the company a “buy” rating in a report on Monday. Wall Street Zen raised Global Ship Lease from a “hold” rating to a “buy” rating in a research report on Thursday.

Global Ship Lease Stock Performance

Shares of NYSE GSL opened at $24.96 on Thursday. The company has a current ratio of 1.64, a quick ratio of 1.58 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $884.76 million, a P/E ratio of 2.76 and a beta of 1.10. Global Ship Lease has a 12 month low of $17.73 and a 12 month high of $30.32. The stock has a 50 day moving average of $21.99 and a 200-day moving average of $22.18.

Global Ship Lease (NYSE:GSL) last released its quarterly earnings data on Monday, May 19th. The shipping company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.27 by $0.38. The firm had revenue of $190.98 million for the quarter, compared to the consensus estimate of $171.73 million. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. During the same period in the previous year, the company earned $2.53 earnings per share. As a group, equities research analysts predict that Global Ship Lease will post 9.74 EPS for the current year.

Hedge Funds Weigh In On Global Ship Lease

Hedge funds have recently bought and sold shares of the business. SBI Securities Co. Ltd. boosted its holdings in Global Ship Lease by 41.9% in the 1st quarter. SBI Securities Co. Ltd. now owns 2,430 shares of the shipping company’s stock valued at $56,000 after purchasing an additional 717 shares during the period. Isthmus Partners LLC raised its position in shares of Global Ship Lease by 0.7% in the first quarter. Isthmus Partners LLC now owns 113,625 shares of the shipping company’s stock valued at $2,596,000 after buying an additional 793 shares in the last quarter. WealthCollab LLC raised its position in shares of Global Ship Lease by 64.1% in the fourth quarter. WealthCollab LLC now owns 2,615 shares of the shipping company’s stock valued at $57,000 after buying an additional 1,021 shares in the last quarter. SVB Wealth LLC bought a new stake in shares of Global Ship Lease in the first quarter valued at approximately $33,000. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of Global Ship Lease by 6,856.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,600 shares of the shipping company’s stock valued at $36,000 after buying an additional 1,577 shares during the period. 50.08% of the stock is owned by institutional investors.

About Global Ship Lease

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.