Global Ship Lease (NYSE:GSL) Releases Earnings Results, Beats Estimates By $0.25 EPS

Global Ship Lease (NYSE:GSL) issued its quarterly earnings data on Wednesday. The shipping company reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.25, Zacks reports. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%.

Global Ship Lease Trading Up 6.9 %

Shares of NYSE:GSL traded up $1.46 during mid-day trading on Wednesday, hitting $22.78. The company had a trading volume of 116,202 shares, compared to its average volume of 340,070. The company has a market capitalization of $839.75 million, a PE ratio of 2.50 and a beta of 1.53. Global Ship Lease has a one year low of $19.22 and a one year high of $30.32. The firm has a fifty day moving average price of $21.95 and a 200 day moving average price of $23.21. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.64 and a quick ratio of 1.58.

Global Ship Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Monday, February 24th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 7.90%. The ex-dividend date of this dividend is Monday, February 24th. Global Ship Lease’s dividend payout ratio (DPR) is presently 19.93%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GSL. StockNews.com raised Global Ship Lease from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 25th. Jefferies Financial Group reissued a “buy” rating and issued a $29.00 price target on shares of Global Ship Lease in a research note on Monday, November 11th. Finally, Clarkson Capital lowered Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 price objective on the stock. in a research note on Thursday, November 14th.

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.