Global Ship Lease (NYSE:GSL) Announces Earnings Results, Beats Estimates By $0.02 EPS

Global Ship Lease (NYSE:GSL) issued its quarterly earnings data on Monday. The shipping company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.02, RTT News reports. Global Ship Lease had a return on equity of 28.92% and a net margin of 46.90%. During the same quarter last year, the firm posted $2.33 earnings per share.

Global Ship Lease Stock Performance

Shares of NYSE GSL opened at $23.26 on Tuesday. The stock has a market capitalization of $857.41 million, a P/E ratio of 2.54 and a beta of 1.62. The firm’s 50-day moving average price is $24.55 and its two-hundred day moving average price is $25.95. Global Ship Lease has a 52-week low of $17.00 and a 52-week high of $30.32. The company has a quick ratio of 1.36, a current ratio of 1.42 and a debt-to-equity ratio of 0.40.

Global Ship Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Friday, November 22nd will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 7.74%. The ex-dividend date is Friday, November 22nd. Global Ship Lease’s dividend payout ratio (DPR) is presently 16.39%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GSL. StockNews.com lowered shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 25th. Clarkson Capital upgraded Global Ship Lease from a “neutral” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $29.00 target price on shares of Global Ship Lease in a report on Monday.

About Global Ship Lease

Global Ship Lease, Inc, together with its subsidiaries, engages in owning and chartering of containerships under fixed-rate charters to container shipping companies worldwide. As of March 11, 2024, it owned 68 mid-sized and smaller containerships, ranging from 2,207 to 11,040 twenty-foot equivalent unit (TEU), with an aggregate capacity of 375,406 TEU.