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

Shares of Global Ship Lease Inc (NYSE:GSL) have been assigned an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.

Brokers have set a one year consensus price target of $16.00 for the company and are expecting that the company will post $0.38 EPS for the current quarter, according to Zacks. Zacks has also assigned Global Ship Lease an industry rank of 148 out of 256 based on the ratings given to its competitors.

A number of equities research analysts have recently issued reports on GSL shares. Clarkson Capital started coverage on Global Ship Lease in a research report on Tuesday, April 9th. They issued a “buy” rating and a $9.00 price target for the company. Zacks Investment Research upgraded Global Ship Lease from a “hold” rating to a “strong-buy” rating and set a $7.75 price target for the company in a research report on Monday, June 3rd. Finally, ValuEngine lowered Global Ship Lease from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 1st.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Clear Harbor Asset Management LLC acquired a new position in Global Ship Lease in the first quarter valued at approximately $101,000. Deutsche Bank AG acquired a new position in Global Ship Lease during the fourth quarter worth $186,000. Finally, B. Riley Financial Inc. lifted its stake in Global Ship Lease by 38.4% during the fourth quarter. B. Riley Financial Inc. now owns 417,914 shares of the shipping company’s stock worth $259,000 after purchasing an additional 115,980 shares in the last quarter. Hedge funds and other institutional investors own 4.65% of the company’s stock.

NYSE:GSL traded up $0.28 during trading hours on Friday, hitting $7.25. 19,012 shares of the stock were exchanged, compared to its average volume of 13,648. Global Ship Lease has a 52-week low of $4.00 and a 52-week high of $11.20. The company has a current ratio of 1.08, a quick ratio of 1.03 and a debt-to-equity ratio of 2.44. The firm has a market cap of $70.02 million, a P/E ratio of 4.07, a price-to-earnings-growth ratio of 0.75 and a beta of 0.88.

Global Ship Lease (NYSE:GSL) last posted its quarterly earnings results on Tuesday, May 7th. The shipping company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. On average, research analysts forecast that Global Ship Lease will post 1.87 earnings per share for the current year.

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 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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