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

Global Ship Lease (NYSE:GSL) announced its quarterly earnings results on Monday. The shipping company reported $2.45 earnings per share (EPS) for the quarter, beating 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 return on equity of 28.59% and a net margin of 46.38%. During the same period in the prior year, the company posted $2.33 earnings per share.

Global Ship Lease Price Performance

Global Ship Lease stock opened at $24.43 on Thursday. Global Ship Lease has a 12 month low of $17.40 and a 12 month 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 business has a 50 day simple moving average of $24.53 and a 200-day simple moving average of $25.95. The stock has a market capitalization of $900.31 million, a PE ratio of 2.63 and a beta of 1.62.

Global Ship Lease Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 7.37%. The ex-dividend date is Friday, November 22nd. Global Ship Lease’s dividend payout ratio (DPR) is presently 16.61%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group reissued a “buy” rating and issued a $29.00 price objective on shares of Global Ship Lease in a report on Monday. Clarkson Capital raised Global Ship Lease from a “neutral” rating to a “buy” rating in a report on Thursday, August 8th. Finally, StockNews.com downgraded Global Ship Lease from a “strong-buy” rating to a “buy” rating in a report on Friday, October 25th.

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.