Global Ship Lease Inc (NYSE:GSL) – Equities researchers at B. Riley increased their FY2019 earnings estimates for Global Ship Lease in a research note issued to investors on Thursday, November 7th. B. Riley analyst L. Burke now expects that the shipping company will earn $1.58 per share for the year, up from their previous estimate of $1.55. B. Riley currently has a “Buy” rating and a $15.00 price target on the stock. B. Riley also issued estimates for Global Ship Lease’s Q4 2019 earnings at $0.32 EPS, Q1 2020 earnings at $0.37 EPS, Q2 2020 earnings at $0.44 EPS, Q3 2020 earnings at $0.53 EPS, Q4 2020 earnings at $0.56 EPS and FY2020 earnings at $1.90 EPS.
Global Ship Lease (NYSE:GSL) last posted its quarterly earnings results on Wednesday, November 6th. The shipping company reported $0.43 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.06. The company had revenue of $65.95 million for the quarter, compared to analysts’ expectations of $64.61 million. Global Ship Lease had a positive return on equity of 8.60% and a negative net margin of 22.25%.
Separately, ValuEngine downgraded Global Ship Lease from a “sell” rating to a “strong sell” rating in a research note on Monday.
GSL traded down $0.04 on Friday, hitting $7.18. 608 shares of the company traded hands, compared to its average volume of 54,055. The company has a 50 day moving average of $7.58 and a 200-day moving average of $7.12. The company has a quick ratio of 0.90, a current ratio of 0.96 and a debt-to-equity ratio of 2.36. The stock has a market capitalization of $121.90 million, a PE ratio of 4.08 and a beta of 1.01. Global Ship Lease has a 12-month low of $4.00 and a 12-month high of $9.04.
A number of large investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of Global Ship Lease during the second quarter worth $110,000. Clear Harbor Asset Management LLC grew its stake in shares of Global Ship Lease by 131.0% during the second quarter. Clear Harbor Asset Management LLC now owns 40,170 shares of the shipping company’s stock valued at $296,000 after acquiring an additional 22,781 shares in the last quarter. Foundry Partners LLC acquired a new stake in shares of Global Ship Lease during the third quarter valued at about $1,272,000. Finally, Renaissance Technologies LLC grew its stake in shares of Global Ship Lease by 11.8% during the second quarter. Renaissance Technologies LLC now owns 252,975 shares of the shipping company’s stock valued at $1,866,000 after acquiring an additional 26,750 shares in the last quarter. Hedge funds and other institutional investors own 3.83% of the company’s stock.
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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