Global Ship Lease (NYSE:GSL – Get Free Report) posted its quarterly earnings results on Monday. The shipping company reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.19, Zacks reports. Global Ship Lease had a return on equity of 29.44% and a net margin of 46.30%. The company had revenue of $175.00 million during the quarter, compared to analysts’ expectations of $172.07 million. During the same quarter in the previous year, the firm earned $2.09 EPS.
Global Ship Lease Trading Up 0.4 %
Shares of NYSE:GSL traded up $0.11 during midday trading on Wednesday, reaching $26.74. The company’s stock had a trading volume of 56,348 shares, compared to its average volume of 655,754. The firm has a market capitalization of $940.93 million, a price-to-earnings ratio of 3.01 and a beta of 1.64. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.18 and a current ratio of 1.24. The firm has a 50 day moving average price of $27.61 and a two-hundred day moving average price of $23.82. Global Ship Lease has a fifty-two week low of $16.80 and a fifty-two week high of $30.32.
Global Ship Lease Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Friday, August 23rd will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.73%. This is an increase from Global Ship Lease’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, August 23rd. Global Ship Lease’s payout ratio is currently 16.95%.
Wall Street Analysts Forecast Growth
Get Our Latest Research Report on GSL
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.
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