Key Points
- Global Ship Lease director Ulrike Helfer sold 4,000 shares at an average price of $44.82, generating $179,280 and reducing her stake by nearly 32% to 8,503 shares.
- The company reported quarterly EPS of $2.48 and revenue of $198.69 million, exceeding analyst expectations; analysts forecast full-year EPS of $9.62.
- GSL pays a quarterly dividend of $0.625 per share, equivalent to a 5.5% annualized yield, while analysts maintain an overall “Buy” rating with a consensus price target of $51.
Global Ship Lease, Inc. (NYSE:GSL - Get Free Report) Director Ulrike Helfer sold 4,000 shares of the company's stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $44.82, for a total transaction of $179,280.00. Following the completion of the sale, the director owned 8,503 shares of the company's stock, valued at approximately $381,104.46. The trade was a 31.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Global Ship Lease Stock Performance
Shares of GSL stock opened at $45.78 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.13 and a quick ratio of 2.06. The firm has a 50-day moving average of $44.23 and a 200-day moving average of $40.89. Global Ship Lease, Inc. has a one year low of $27.28 and a one year high of $46.57. The company has a market cap of $1.64 billion, a P/E ratio of 4.40 and a beta of 0.98.
Global Ship Lease (NYSE:GSL - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The shipping company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.06. Global Ship Lease had a net margin of 49.10% and a return on equity of 19.92%. The business had revenue of $198.69 million for the quarter, compared to analysts' expectations of $186.85 million. During the same period in the previous year, the company earned $2.67 earnings per share. The firm's revenue for the quarter was up 3.9% compared to the same quarter last year. Equities research analysts forecast that Global Ship Lease, Inc. will post 9.62 EPS for the current fiscal year.
Global Ship Lease Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Friday, August 21st were given a dividend of $0.6250 per share. The ex-dividend date of this dividend was Friday, August 21st. This represents a $2.50 annualized dividend and a dividend yield of 5.5%. Global Ship Lease's dividend payout ratio (DPR) is currently 24.04%.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on GSL shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Global Ship Lease in a report on Friday, July 17th. B. Riley Financial increased their price target on Global Ship Lease from $48.00 to $52.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Zacks Research upgraded Global Ship Lease from a "strong sell" rating to a "hold" rating in a report on Monday, July 27th. Wall Street Zen cut Global Ship Lease from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Jefferies Financial Group upped their price objective on Global Ship Lease from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $51.00.
Check Out Our Latest Analysis on GSL
Institutional Trading of Global Ship Lease
Hedge funds and other institutional investors have recently modified their holdings of the business. Sei Investments Co. boosted its holdings in Global Ship Lease by 51.8% in the 1st quarter. Sei Investments Co. now owns 200,806 shares of the shipping company's stock worth $7,476,000 after buying an additional 68,535 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Global Ship Lease in the 2nd quarter valued at approximately $4,210,000. SG Americas Securities LLC raised its holdings in Global Ship Lease by 225.9% during the 1st quarter. SG Americas Securities LLC now owns 185,168 shares of the shipping company's stock valued at $6,894,000 after acquiring an additional 128,351 shares during the period. First Trust Advisors LP bought a new stake in Global Ship Lease during the 1st quarter valued at $12,681,000. Finally, Navellier & Associates Inc. bought a new stake in Global Ship Lease during the 2nd quarter valued at $1,857,000. Institutional investors own 50.08% of the company's stock.
Global Ship Lease Company Profile
(
Get Free Report)
Global Ship Lease, Inc (NYSE:GSL) is a containership owner and charterer that provides maritime transportation capacity to liner companies. The company owns and manages a fleet of container vessels designed to transport manufactured goods, consumer products, industrial materials and other containerized cargo across international trade routes.
Global Ship Lease generally employs time-charter arrangements, under which its vessels are leased to container shipping companies for specified periods.
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