Global Ship Lease (NYSE:GSL) Issues Quarterly Earnings Results

Global Ship Lease (NYSE:GSL) 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

A number of equities research analysts recently weighed in on GSL shares. StockNews.com lowered Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 23rd. Jefferies Financial Group reissued a “buy” rating and issued a $29.00 price objective on shares of Global Ship Lease in a research note on Monday.

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.