Global Ship Lease (NYSE:GSL) Releases Earnings Results, Beats Expectations By $0.02 EPS

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

Global Ship Lease Stock Up 1.4 %

Global Ship Lease stock traded up $0.32 during midday trading on Wednesday, hitting $23.57. 47,964 shares of the stock were exchanged, compared to its average volume of 557,296. Global Ship Lease has a 1 year low of $17.40 and a 1 year high of $30.32. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.42 and a quick ratio of 1.36. The firm has a market cap of $868.79 million, a P/E ratio of 2.57 and a beta of 1.62. The company has a 50 day moving average price of $24.55 and a two-hundred day moving average price of $25.95.

Global Ship Lease Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Friday, November 22nd will be paid a $0.45 dividend. The ex-dividend date is Friday, November 22nd. This represents a $1.80 annualized dividend and a dividend yield of 7.64%. Global Ship Lease’s dividend payout ratio (DPR) is presently 16.61%.

Analyst Ratings Changes

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

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.