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

Global Ship Lease (NYSE:GSL) released its quarterly earnings results on Monday. The shipping company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.02, RTT News reports. The business 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 previous year, the company posted $2.33 EPS.

Global Ship Lease Stock Down 0.1 %

Shares of NYSE:GSL opened at $23.23 on Wednesday. The business has a fifty day simple moving average of $24.55 and a 200 day simple moving average of $25.95. Global Ship Lease has a 12-month low of $17.00 and a 12-month high of $30.32. The firm has a market cap of $856.26 million, a P/E ratio of 2.57 and a beta of 1.62. The company has a quick ratio of 1.36, a current ratio of 1.42 and a debt-to-equity ratio of 0.40.

Global Ship Lease Announces Dividend

The firm 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 of this dividend is Friday, November 22nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.75%. Global Ship Lease’s dividend payout ratio (DPR) is presently 16.61%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Clarkson Capital upgraded Global Ship Lease from a “neutral” rating to a “buy” rating in a research note on Thursday, August 8th. Jefferies Financial Group reaffirmed a “buy” rating and set a $29.00 price objective on shares of Global Ship Lease in a research report on Monday. Finally, StockNews.com cut shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research 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.