Zacks: Global Ship Lease Inc (NYSE:GSL) Receives Average Rating of “Strong Buy” from Brokerages

Shares of Global Ship Lease Inc (NYSE:GSL) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.

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Analysts have set a one year consensus target price of $15.00 for the company and are anticipating that the company will post $0.32 EPS for the current quarter, according to Zacks. Zacks has also assigned Global Ship Lease an industry rank of 22 out of 255 based on the ratings given to related companies.

Several analysts recently weighed in on the stock. B. Riley assumed coverage on shares of Global Ship Lease in a report on Monday, September 30th. They issued a “buy” rating and a $15.00 target price for the company. ValuEngine downgraded shares of Global Ship Lease from a “sell” rating to a “strong sell” rating in a report on Monday, November 4th.

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in Global Ship Lease in the 2nd quarter valued at approximately $110,000. Clear Harbor Asset Management LLC increased its holdings in Global Ship Lease by 131.0% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 40,170 shares of the shipping company’s stock valued at $296,000 after purchasing an additional 22,781 shares during the last quarter. Foundry Partners LLC acquired a new stake in Global Ship Lease in the 3rd quarter valued at approximately $1,272,000. Finally, Renaissance Technologies LLC increased its holdings in Global Ship Lease by 11.8% in the 2nd quarter. Renaissance Technologies LLC now owns 252,975 shares of the shipping company’s stock valued at $1,866,000 after purchasing an additional 26,750 shares during the last quarter. Hedge funds and other institutional investors own 3.83% of the company’s stock.

NYSE:GSL remained flat at $$7.22 on Tuesday. 17,819 shares of the company’s stock traded hands, compared to its average volume of 26,226. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.90 and a current ratio of 0.96. The firm has a market capitalization of $121.90 million, a PE ratio of 4.10 and a beta of 1.01. The stock has a fifty day moving average price of $7.57 and a two-hundred day moving average price of $7.13. Global Ship Lease has a 12 month low of $4.00 and a 12 month high of $9.04.

Global Ship Lease (NYSE:GSL) last issued its quarterly earnings data on Wednesday, November 6th. The shipping company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.37 by $0.06. The firm had revenue of $65.95 million for the quarter, compared to analyst estimates of $64.61 million. Global Ship Lease had a negative net margin of 22.25% and a positive return on equity of 8.60%. Analysts forecast that Global Ship Lease will post 1.55 EPS for the current year.

Global Ship Lease Company Profile

Global Ship Lease, Inc owns and charters containerships of various sizes under fixed-rate charters to container shipping companies. As of December 31, 2018, it owned 38 vessels with a total capacity of 200,615 twenty-foot equivalent units. The company is based in London, the United Kingdom.

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