Global Ship Lease (NYSE:GSL) Reaches New 1-Year High – Should You Buy?

Global Ship Lease, Inc. (NYSE:GSL) shares hit a new 52-week high on Thursday . The stock traded as high as $42.78 and last traded at $42.70, with a volume of 115581 shares changing hands. The stock had previously closed at $42.06.

Analyst Upgrades and Downgrades

GSL has been the topic of a number of analyst reports. Jefferies Financial Group began coverage on shares of Global Ship Lease in a research report on Friday, April 24th. They issued a “buy” rating and a $45.00 price objective on the stock. Zacks Research lowered shares of Global Ship Lease from a “hold” rating to a “strong sell” rating in a report on Wednesday, June 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Global Ship Lease in a research note on Friday, July 17th. Wall Street Zen upgraded Global Ship Lease from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. Finally, Fearnley Fonds raised Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Global Ship Lease currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.50.

Global Ship Lease Price Performance

The company has a current ratio of 2.26, a quick ratio of 2.21 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average price is $39.05 and its two-hundred day moving average price is $38.48. The stock has a market cap of $1.54 billion, a P/E ratio of 4.07 and a beta of 0.90.

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

Global Ship Lease Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Friday, May 22nd were given a $0.625 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $2.50 annualized dividend and a dividend yield of 5.8%. Global Ship Lease’s dividend payout ratio is currently 23.74%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Triumph Capital Management bought a new stake in shares of Global Ship Lease during the third quarter valued at approximately $25,000. Northwestern Mutual Wealth Management Co. bought a new position in Global Ship Lease in the fourth quarter worth $29,000. Hilton Head Capital Partners LLC bought a new position in Global Ship Lease in the fourth quarter worth $35,000. SHP Wealth Management purchased a new stake in shares of Global Ship Lease in the 4th quarter worth about $35,000. Finally, LOM Asset Management Ltd bought a new position in shares of Global Ship Lease in the 4th quarter worth about $49,000. Hedge funds and other 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.