Global Ship Lease (NYSE:GSL) Releases Earnings Results

Global Ship Lease (NYSE:GSL) announced its quarterly earnings data on Monday. The shipping company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.02, RTT News reports. Global Ship Lease had a net margin of 46.38% and a return on equity of 28.59%. The company had revenue of $174.06 million for the quarter, compared to the consensus estimate of $175.83 million. During the same period in the prior year, the firm posted $2.33 EPS.

Global Ship Lease Stock Performance

Global Ship Lease stock traded up $1.18 during midday trading on Wednesday, hitting $24.43. 470,440 shares of the company’s stock were exchanged, compared to its average volume of 559,216. Global Ship Lease has a 12-month low of $17.40 and a 12-month high of $30.32. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.42. The stock has a market cap of $900.31 million, a price-to-earnings ratio of 2.63 and a beta of 1.62. The firm’s 50 day simple moving average is $24.53 and its 200 day simple moving average is $25.95.

Global Ship Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Friday, November 22nd will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 7.37%. The ex-dividend date of this dividend is Friday, November 22nd. Global Ship Lease’s payout ratio is currently 16.61%.

Wall Street Analysts Forecast Growth

GSL has been the topic of a number of recent analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $29.00 price objective on shares of Global Ship Lease in a research report on Monday. Clarkson Capital raised shares of Global Ship Lease from a “neutral” rating to a “buy” rating in a research report on Thursday, August 8th. Finally, StockNews.com downgraded shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 25th.

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.