Global Ship Lease (NYSE:GSL) Announces Earnings Results

Global Ship Lease (NYSE:GSL) released its earnings results on Monday. The shipping company reported $2.45 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $175.83 million. During the same quarter last year, the business earned $2.33 EPS.

Global Ship Lease Trading Up 1.4 %

NYSE GSL traded up $0.32 during mid-day trading on Wednesday, reaching $23.57. 47,964 shares of the stock were exchanged, compared to its average volume of 557,296. The stock has a market capitalization of $868.79 million, a PE ratio of 2.57 and a beta of 1.62. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.42. Global Ship Lease has a 1-year low of $17.40 and a 1-year high of $30.32. The business’s fifty day simple moving average is $24.55 and its 200 day simple moving average is $25.95.

Global Ship Lease Dividend Announcement

The company 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 dividend of $0.45 per share. The ex-dividend date is Friday, November 22nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.64%. Global Ship Lease’s dividend payout ratio (DPR) is presently 16.61%.

Wall Street Analyst Weigh In

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

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.