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

Global Ship Lease (NYSE:GSL) released its earnings results on Monday. The shipping company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.02, RTT News reports. Global Ship Lease had a return on equity of 28.92% and a net margin of 46.90%. During the same quarter in the prior year, the business earned $2.33 earnings per share.

Global Ship Lease Stock Performance

GSL stock opened at $23.26 on Tuesday. Global Ship Lease has a one year low of $17.00 and a one year high of $30.32. The firm has a market cap of $857.41 million, a price-to-earnings ratio of 2.54 and a beta of 1.62. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.42. The firm has a 50-day simple moving average of $24.55 and a two-hundred day simple moving average of $25.95.

Global Ship Lease Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Friday, November 22nd will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.80 dividend on an annualized basis and a yield of 7.74%. Global Ship Lease’s dividend payout ratio is presently 16.39%.

Analyst Ratings Changes

GSL has been the subject of a number of research analyst reports. Clarkson Capital raised Global Ship Lease from a “neutral” rating to a “buy” rating in a research report on Thursday, August 8th. Jefferies Financial Group restated a “buy” rating and issued a $29.00 price objective on shares of Global Ship Lease in a report on Monday. Finally, StockNews.com lowered shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research note 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.