Global Ship Lease (NYSE:GSL) Stock Rating Upgraded by Zacks Research
by Jessica Moore · The Cerbat GemGlobal Ship Lease (NYSE:GSL – Get Free Report) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.
Several other research analysts also recently commented on the stock. Fearnley Fonds raised shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Global Ship Lease in a report on Tuesday, April 21st. B. Riley Financial increased their price objective on shares of Global Ship Lease from $42.00 to $48.00 and gave the company a “buy” rating in a report on Friday, March 6th. Wall Street Zen downgraded shares of Global Ship Lease from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Jefferies Financial Group initiated 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 for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.33.
Get Our Latest Stock Report on GSL
Global Ship Lease Stock Up 0.4%
GSL opened at $41.68 on Tuesday. The firm has a 50-day simple moving average of $38.78 and a two-hundred day simple moving average of $36.19. Global Ship Lease has a 52 week low of $21.26 and a 52 week high of $42.14. The company has a market capitalization of $1.50 billion, a PE ratio of 3.66 and a beta of 0.96. The company has a quick ratio of 2.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.30.
Global Ship Lease (NYSE:GSL – Get Free Report) last released its quarterly earnings data on Thursday, March 5th. The shipping company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.31 by $0.01. Global Ship Lease had a net margin of 54.33% and a return on equity of 22.35%. The business had revenue of $190.95 million during the quarter, compared to the consensus estimate of $188.39 million. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. Analysts forecast that Global Ship Lease will post 9.68 earnings per share for the current fiscal year.
Insider Activity at Global Ship Lease
In related news, insider Georgios Giannopoulos sold 7,692 shares of the stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $38.51, for a total value of $296,218.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 7.40% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in GSL. Goldman Sachs Group Inc. lifted its holdings in shares of Global Ship Lease by 407.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 170,769 shares of the shipping company’s stock valued at $5,984,000 after acquiring an additional 137,113 shares during the last quarter. SG Americas Securities LLC raised its position in Global Ship Lease by 225.9% in the 1st quarter. SG Americas Securities LLC now owns 185,168 shares of the shipping company’s stock worth $6,894,000 after purchasing an additional 128,351 shares during the period. Millennium Management LLC raised its position in Global Ship Lease by 111.6% in the 3rd quarter. Millennium Management LLC now owns 221,510 shares of the shipping company’s stock worth $6,800,000 after purchasing an additional 116,837 shares during the period. Qube Research & Technologies Ltd raised its position in Global Ship Lease by 23.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 567,442 shares of the shipping company’s stock worth $17,420,000 after purchasing an additional 107,651 shares during the period. Finally, Royal Palms Capital LLC purchased a new stake in Global Ship Lease in the 4th quarter worth about $3,665,000. Institutional investors own 50.08% of the company’s stock.
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.