Global Ship Lease, Inc. (NYSE:GSL) Declares $0.45 Quarterly Dividend

Global Ship Lease, Inc. (NYSE:GSL) announced a quarterly dividend on Monday, November 11th,Zacks Dividends reports. Stockholders of record on Friday, November 22nd will be given a dividend of 0.45 per share by the shipping company on Wednesday, December 4th. This represents a $1.80 annualized dividend and a dividend yield of 7.72%. The ex-dividend date of this dividend is Friday, November 22nd.

Global Ship Lease has a payout ratio of 16.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Global Ship Lease to earn $8.69 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 17.3%.

Global Ship Lease Stock Down 1.2 %

Shares of NYSE GSL opened at $23.31 on Thursday. The business has a 50-day simple moving average of $24.57 and a two-hundred day simple moving average of $25.96. The company has a market cap of $859.21 million, a P/E ratio of 2.58 and a beta of 1.62. Global Ship Lease has a 52 week low of $17.47 and a 52 week high of $30.32. The company has a quick ratio of 1.58, a current ratio of 1.64 and a debt-to-equity ratio of 0.38.

Global Ship Lease (NYSE:GSL) last posted its earnings results on Monday, November 11th. The shipping company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.43 by $0.02. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. The business had revenue of $174.06 million during the quarter, compared to analysts’ expectations of $175.83 million. During the same period in the previous year, the business earned $2.33 earnings per share. Research analysts anticipate that Global Ship Lease will post 9.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GSL has been the topic of a number of research analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $29.00 target price on shares of Global Ship Lease in a research note on Monday, November 11th. Clarkson Capital lowered Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 price objective on the stock. in a research report on Thursday, November 14th. Finally, StockNews.com cut Global Ship Lease from a “strong-buy” rating to a “buy” rating in a report on Friday, October 25th.

Global Ship Lease Company Profile

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.