Global Ship Lease (NYSE:GSL) Price Target Increased to $25.00 by Analysts at B. Riley

Global Ship Lease (NYSE:GSL) had its target price boosted by equities researchers at B. Riley from $22.00 to $25.00 in a research note issued to investors on Friday, The Fly reports. The brokerage presently has a “buy” rating on the shipping company’s stock. B. Riley’s price target indicates a potential upside of 30.01% from the stock’s current price.

A number of other brokerages also recently commented on GSL. Zacks Investment Research upgraded shares of Global Ship Lease from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Wednesday, May 12th. Jefferies Financial Group boosted their target price on shares of Global Ship Lease from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday.

NYSE:GSL opened at $19.23 on Friday. The stock has a fifty day simple moving average of $15.15. The firm has a market capitalization of $697.72 million, a P/E ratio of 14.46 and a beta of 2.18. The company has a current ratio of 1.69, a quick ratio of 1.63 and a debt-to-equity ratio of 1.25. Global Ship Lease has a 52 week low of $4.02 and a 52 week high of $19.80.

Global Ship Lease (NYSE:GSL) last posted its quarterly earnings results on Wednesday, May 12th. The shipping company reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.06. The business had revenue of $72.98 million during the quarter, compared to the consensus estimate of $70.77 million. Global Ship Lease had a net margin of 16.05% and a return on equity of 12.97%. As a group, research analysts expect that Global Ship Lease will post 2.62 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Punch & Associates Investment Management Inc. boosted its stake in Global Ship Lease by 115.0% in the first quarter. Punch & Associates Investment Management Inc. now owns 1,839,415 shares of the shipping company’s stock valued at $25,936,000 after acquiring an additional 984,036 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Global Ship Lease by 53.6% in the first quarter. Renaissance Technologies LLC now owns 818,077 shares of the shipping company’s stock valued at $11,535,000 after buying an additional 285,600 shares during the last quarter. No Street GP LP purchased a new stake in shares of Global Ship Lease in the first quarter valued at about $11,280,000. Foundry Partners LLC raised its holdings in shares of Global Ship Lease by 4.4% in the fourth quarter. Foundry Partners LLC now owns 260,852 shares of the shipping company’s stock valued at $3,102,000 after buying an additional 11,055 shares during the last quarter. Finally, L & S Advisors Inc purchased a new stake in shares of Global Ship Lease in the first quarter valued at about $2,429,000. Institutional investors own 24.41% of the company’s stock.

About Global Ship Lease

Global Ship Lease, Inc owns and charters containerships of various sizes under fixed-rate charters to container shipping companies. As of March 10, 2021, it owned 43 mid-sized and smaller containerships with an aggregate capacity of 245,280 twenty-foot equivalent units. The company is based in London, the United Kingdom.

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