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

Shares of Global Ship Lease Inc (NYSE:GSL) have received a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.

Analysts have set a 1-year consensus price objective of $16.00 for the company and are anticipating that the company will post $0.38 earnings per share for the current quarter, according to Zacks. Zacks has also given Global Ship Lease an industry rank of 149 out of 256 based on the ratings given to its competitors.

Several brokerages have weighed in on GSL. Clarkson Capital began coverage on Global Ship Lease in a report on Tuesday, April 9th. They issued a “buy” rating and a $9.00 price objective for the company. ValuEngine raised Zuora from a “hold” rating to a “buy” rating in a report on Saturday, July 6th. Finally, Zacks Investment Research raised Global Ship Lease from a “hold” rating to a “strong-buy” rating and set a $7.75 price objective for the company in a report on Monday, June 3rd.

An institutional investor recently bought a new position in Global Ship Lease stock. Deutsche Bank AG purchased a new stake in Global Ship Lease Inc (NYSE:GSL) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 300,000 shares of the shipping company’s stock, valued at approximately $186,000. Deutsche Bank AG owned about 3.02% of Global Ship Lease at the end of the most recent quarter. Hedge funds and other institutional investors own 4.34% of the company’s stock.

NYSE:GSL traded up $0.26 during mid-day trading on Monday, hitting $8.14. 885 shares of the stock were exchanged, compared to its average volume of 23,705. The stock has a market cap of $78.33 million, a PE ratio of 4.66, a price-to-earnings-growth ratio of 0.84 and a beta of 0.93. The stock’s 50-day moving average price is $7.30. The company has a debt-to-equity ratio of 2.44, a current ratio of 1.08 and a quick ratio of 1.03. Global Ship Lease has a fifty-two week low of $4.00 and a fifty-two week high of $11.20.

Global Ship Lease (NYSE:GSL) last released its quarterly earnings results on Tuesday, May 7th. The shipping company reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.06. The business had revenue of $64.51 million during the quarter. Global Ship Lease had a positive return on equity of 7.52% and a negative net margin of 28.19%. As a group, equities analysts anticipate that Global Ship Lease will post 1.87 EPS for the current fiscal 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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