Brokerages Anticipate Global Ship Lease Inc (NYSE:GSL) to Announce $0.38 EPS

Shares of Global Ship Lease Inc (NYSE:GSL) have been given 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 twelve-month consensus price objective of $16.00 for the company and are predicting that the company will post $0.38 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Global Ship Lease an industry rank of 149 out of 256 based on the ratings given to related companies.

A number of equities research analysts have issued reports on the company. Zacks Investment Research raised Global Ship Lease from a “hold” rating to a “strong-buy” rating and set a $7.75 price target on the stock in a research report on Monday, June 3rd. Clarkson Capital assumed coverage on Global Ship Lease in a research report on Tuesday, April 9th. They issued a “buy” rating and a $9.00 price target on the stock. Finally, ValuEngine raised Zuora from a “hold” rating to a “buy” rating in a research report on Saturday, July 6th.

An institutional investor recently bought a new position in Global Ship Lease stock. Clear Harbor Asset Management LLC purchased a new stake in Global Ship Lease Inc (NYSE:GSL) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 17,389 shares of the shipping company’s stock, valued at approximately $101,000. Clear Harbor Asset Management LLC owned approximately 0.17% of Global Ship Lease at the end of the most recent reporting period. 4.34% of the stock is owned by hedge funds and other institutional investors.

GSL traded down $0.06 during mid-day trading on Monday, hitting $7.88. 49,945 shares of the stock were exchanged, compared to its average volume of 21,419. The firm’s fifty day moving average price is $7.30. Global Ship Lease has a 1-year low of $4.00 and a 1-year 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 company has a market cap of $78.33 million, a P/E ratio of 4.48, a PEG ratio of 0.85 and a beta of 0.93.

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