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

Clarkson Capital cut shares of Global Ship Lease (NYSE:GSL) from a buy rating to a neutral rating in a report released on Thursday morning, Marketbeat reports. Clarkson Capital currently has $27.00 target price on the shipping company’s stock.

Several other research analysts also recently commented on the stock. StockNews.com downgraded shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 25th. Jefferies Financial Group reiterated a “buy” rating and issued a $29.00 target price on shares of Global Ship Lease in a research report on Monday, November 11th.

Global Ship Lease Stock Down 0.7 %

GSL opened at $23.65 on Thursday. The business’s fifty day simple moving average is $24.55 and its 200 day simple moving average is $25.93. Global Ship Lease has a 52 week low of $17.47 and a 52 week high of $30.32. The company has a quick ratio of 1.36, a current ratio of 1.64 and a debt-to-equity ratio of 0.38. The stock has a market cap of $871.74 million, a PE ratio of 2.62 and a beta of 1.62.

Global Ship Lease (NYSE:GSL) last announced its quarterly earnings data on Monday, November 11th. The shipping company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.43 by $0.02. The firm had revenue of $174.06 million for the quarter, compared to analyst estimates of $175.83 million. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. During the same period in the prior year, the company earned $2.33 EPS. As a group, research analysts expect that Global Ship Lease will post 9.85 earnings per share for the current fiscal year.

Global Ship Lease Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Friday, November 22nd will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.80 dividend on an annualized basis and a yield of 7.61%. Global Ship Lease’s dividend payout ratio (DPR) is currently 16.61%.

Institutional Trading of Global Ship Lease

A number of institutional investors have recently made changes to their positions in GSL. Signaturefd LLC increased its stake in shares of Global Ship Lease by 23.3% in the second quarter. Signaturefd LLC now owns 2,526 shares of the shipping company’s stock worth $73,000 after buying an additional 477 shares during the period. Mather Group LLC. bought a new stake in Global Ship Lease in the 2nd quarter worth $88,000. Blue Trust Inc. increased its position in shares of Global Ship Lease by 2,642.1% in the second quarter. Blue Trust Inc. now owns 3,126 shares of the shipping company’s stock valued at $90,000 after acquiring an additional 3,012 shares during the period. Quarry LP raised its stake in shares of Global Ship Lease by 75.0% during the third quarter. Quarry LP now owns 3,495 shares of the shipping company’s stock valued at $93,000 after acquiring an additional 1,498 shares during the last quarter. Finally, Fairscale Capital LLC purchased a new stake in shares of Global Ship Lease during the second quarter worth about $107,000. Hedge funds and other institutional investors own 50.08% of the company’s stock.

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.