Global Ship Lease (NYSE:GSL) Shares Gap Down – Here’s Why

Global Ship Lease, Inc. (NYSE:GSL) gapped down before the market opened on Friday . The stock had previously closed at $22.85, but opened at $22.24. Global Ship Lease shares last traded at $22.11, with a volume of 104,237 shares trading hands.

Analyst Ratings Changes

Several analysts have recently issued reports on GSL shares. Jefferies Financial Group reiterated a “buy” rating and set a $29.00 price target on shares of Global Ship Lease in a research note on Monday, November 11th. Clarkson Capital downgraded Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 price target on the stock. in a report on Thursday, November 14th. Finally, 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

The stock has a market cap of $820.50 million, a P/E ratio of 2.47 and a beta of 1.62. The firm has a 50 day moving average of $24.51 and a two-hundred day moving average of $25.93. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.58 and a current ratio of 1.64.

Global Ship Lease (NYSE:GSL) last posted its quarterly earnings data on Monday, November 11th. The shipping company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.02. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. The company had revenue of $174.06 million during the quarter, compared to analysts’ expectations of $175.83 million. During the same period in the prior year, the business earned $2.33 earnings per share. On average, research analysts predict that Global Ship Lease, Inc. will post 9.85 EPS 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 given a $0.45 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.80 annualized dividend and a yield of 8.09%. Global Ship Lease’s dividend payout ratio is 16.61%.

Institutional Inflows and Outflows

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