Global Ship Lease, Inc. (NYSE:GSL) Declares $0.38 Quarterly Dividend

Global Ship Lease, Inc. (NYSE:GSL) announced a quarterly dividend on Friday, May 10th, NASDAQ reports. Shareholders of record on Friday, May 24th will be given a dividend of 0.375 per share by the shipping company on Monday, June 3rd. This represents a $1.50 annualized dividend and a yield of 5.49%. The ex-dividend date of this dividend is Thursday, May 23rd.

Global Ship Lease has a payout ratio of 21.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Global Ship Lease to earn $8.39 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 17.9%.

Global Ship Lease Price Performance

GSL stock opened at $27.33 on Wednesday. The business has a fifty day moving average of $22.08 and a two-hundred day moving average of $20.47. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 0.52. The stock has a market cap of $961.74 million, a price-to-earnings ratio of 3.08 and a beta of 1.46. Global Ship Lease has a 52-week low of $16.80 and a 52-week high of $27.34.

Global Ship Lease (NYSE:GSL) last released its quarterly earnings results on Monday, March 4th. The shipping company reported $2.49 EPS for the quarter, topping the consensus estimate of $2.34 by $0.15. Global Ship Lease had a return on equity of 30.26% and a net margin of 46.30%. The business had revenue of $178.89 million during the quarter, compared to analyst estimates of $171.54 million. During the same period last year, the business posted $2.14 earnings per share. As a group, research analysts anticipate that Global Ship Lease will post 9.61 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on GSL shares. Jefferies Financial Group lifted their target price on Global Ship Lease from $26.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, May 16th. StockNews.com upgraded Global Ship Lease from a “buy” rating to a “strong-buy” rating in a report on Tuesday.

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.