Global Ship Lease (NYSE:GSL) Cut to “Neutral” at Clarkson Capital

Global Ship Lease (NYSE:GSL) was downgraded by investment analysts at Clarkson Capital from a “buy” rating to a “neutral” rating in a research report issued on Thursday,Briefing.com Automated Import reports. They presently have a $27.00 price target on the shipping company’s stock. Clarkson Capital’s price objective suggests a potential upside of 10.54% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Jefferies Financial Group reissued a “buy” rating and issued a $29.00 price objective on shares of Global Ship Lease in a report on Monday. StockNews.com cut shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 25th.

Global Ship Lease Stock Performance

Shares of NYSE GSL opened at $24.43 on Thursday. The company has a market cap of $900.31 million, a PE ratio of 2.70 and a beta of 1.62. The firm’s 50-day moving average price is $24.53 and its 200-day moving average price is $25.95. Global Ship Lease has a 52-week low of $17.40 and a 52-week high of $30.32. The company has a quick ratio of 1.36, a current ratio of 1.42 and a debt-to-equity ratio of 0.40.

Global Ship Lease (NYSE:GSL) last released its quarterly earnings results on Monday, November 11th. The shipping company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.02. The firm had revenue of $174.06 million for the quarter, compared to the consensus estimate of $175.83 million. Global Ship Lease had a return on equity of 28.59% and a net margin of 46.38%. During the same period last year, the business posted $2.33 EPS. As a group, analysts anticipate that Global Ship Lease will post 9.85 EPS for the current year.

Hedge Funds Weigh In On Global Ship Lease

Hedge funds have recently modified their holdings of the company. Signaturefd LLC raised its position in Global Ship Lease by 23.3% during the second quarter. Signaturefd LLC now owns 2,526 shares of the shipping company’s stock valued at $73,000 after purchasing an additional 477 shares during the period. Simplicity Wealth LLC lifted its holdings in shares of Global Ship Lease by 3.2% in the 3rd quarter. Simplicity Wealth LLC now owns 16,236 shares of the shipping company’s stock worth $433,000 after acquiring an additional 505 shares during the last quarter. Moors & Cabot Inc. boosted its stake in shares of Global Ship Lease by 2.2% during the 3rd quarter. Moors & Cabot Inc. now owns 33,150 shares of the shipping company’s stock worth $883,000 after purchasing an additional 700 shares during the period. Tidal Investments LLC grew its holdings in Global Ship Lease by 14.8% during the 1st quarter. Tidal Investments LLC now owns 15,832 shares of the shipping company’s stock valued at $321,000 after purchasing an additional 2,038 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. lifted its stake in Global Ship Lease by 6.5% in the second quarter. Redhawk Wealth Advisors Inc. now owns 37,987 shares of the shipping company’s stock worth $1,094,000 after purchasing an additional 2,313 shares during the last quarter. 50.08% of the stock is currently 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.