Wall Street Zen Upgrades Global Ship Lease (NYSE:GSL) to “Buy”

Global Ship Lease (NYSE:GSL) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Several other research firms have also weighed in on GSL. Jefferies Financial Group began coverage on Global Ship Lease in a research report on Friday, April 24th. They set 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 report on Thursday, April 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Global Ship Lease in a research report on Tuesday, April 21st. Zacks Research raised Global Ship Lease from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th. Finally, B. Riley Financial boosted their price target on Global Ship Lease from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. One 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. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $46.50.

Global Ship Lease Stock Down 0.1%

Shares of Global Ship Lease stock opened at $36.44 on Friday. The business’s 50 day simple moving average is $39.04 and its 200 day simple moving average is $37.32. Global Ship Lease has a 52-week low of $24.51 and a 52-week high of $42.70. The firm has a market cap of $1.31 billion, a PE ratio of 3.46 and a beta of 0.96. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.00 and a current ratio of 2.26.

Global Ship Lease (NYSE:GSL) last announced its earnings results on Friday, May 22nd. The shipping company reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.16. Global Ship Lease had a return on equity of 21.11% and a net margin of 50.01%.The business had revenue of $198.08 million for the quarter, compared to analyst estimates of $182.87 million. The company’s quarterly revenue was up 3.7% on a year-over-year basis. On average, analysts predict that Global Ship Lease will post 9.5 earnings per share for the current fiscal year.

Insider Transactions at Global Ship Lease

In related news, insider Georgios Giannopoulos sold 7,692 shares of the business’s stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $38.51, for a total value of $296,218.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.40% of the stock is owned by company insiders.

Institutional Trading of Global Ship Lease

Institutional investors have recently added to or reduced their stakes in the company. Triumph Capital Management bought a new stake in Global Ship Lease in the 3rd quarter valued at $25,000. Northwestern Mutual Wealth Management Co. bought a new stake in Global Ship Lease in the 4th quarter valued at $29,000. EverSource Wealth Advisors LLC boosted its stake in Global Ship Lease by 77.2% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 989 shares of the shipping company’s stock valued at $30,000 after purchasing an additional 431 shares during the period. Hilton Head Capital Partners LLC bought a new stake in Global Ship Lease in the 4th quarter valued at $35,000. Finally, SHP Wealth Management bought a new stake in Global Ship Lease in the 4th quarter valued at $35,000. 50.08% of the stock is currently owned by institutional investors.

Global Ship Lease Company Profile

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.