B. Riley Financial Boosts Global Ship Lease (NYSE:GSL) Price Target to $52.00

Global Ship Lease (NYSE:GSL) had its price objective upped by stock analysts at B. Riley Financial from $48.00 to $52.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the shipping company’s stock. B. Riley Financial’s price target would suggest a potential upside of 20.76% from the stock’s current price.

GSL has been the subject of several other reports. Zacks Research upgraded Global Ship Lease from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. Jefferies Financial Group assumed coverage on shares of Global Ship Lease in a report on Friday, April 24th. They issued a “buy” rating and a $45.00 price target on the stock. Fearnley Fonds raised Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Wall Street Zen upgraded Global Ship Lease from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Global Ship Lease in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $48.50.

Global Ship Lease Stock Performance

Shares of Global Ship Lease stock traded up $0.37 during trading hours on Thursday, reaching $43.06. The company had a trading volume of 20,007 shares, compared to its average volume of 338,041. The business has a fifty day simple moving average of $39.83 and a 200 day simple moving average of $39.03. Global Ship Lease has a one year low of $27.28 and a one year high of $44.69. The firm has a market cap of $1.55 billion, a PE ratio of 4.10 and a beta of 0.90. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.26 and a quick ratio of 2.21.

Global Ship Lease (NYSE:GSL) last announced its earnings results on Wednesday, August 5th. The shipping company reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.06. Global Ship Lease had a net margin of 50.01% and a return on equity of 21.11%. The business had revenue of $198.69 million during the quarter, compared to analyst estimates of $186.85 million. During the same period in the previous year, the business posted $2.67 earnings per share. Global Ship Lease’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, analysts anticipate that Global Ship Lease will post 9.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Global Ship Lease

Institutional investors and hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC boosted its position in Global Ship Lease by 1.4% in the 1st quarter. NewEdge Advisors LLC now owns 21,269 shares of the shipping company’s stock valued at $792,000 after buying an additional 296 shares during the period. BankChampaign National Association purchased a new position in shares of Global Ship Lease during the first quarter worth $829,000. Bank of America Corp DE lifted its position in Global Ship Lease by 174.5% during the first quarter. Bank of America Corp DE now owns 74,854 shares of the shipping company’s stock valued at $2,787,000 after purchasing an additional 47,589 shares during the period. Parvin Asset Management LLC boosted its holdings in Global Ship Lease by 11.4% in the first quarter. Parvin Asset Management LLC now owns 19,905 shares of the shipping company’s stock valued at $741,000 after purchasing an additional 2,035 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Global Ship Lease by 49.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,579 shares of the shipping company’s stock worth $59,000 after purchasing an additional 522 shares during the period. 50.08% of the stock is owned by hedge funds and other institutional investors.

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.