Global Ship Lease, Inc. (GSL) to Issue Quarterly Dividend of $0.45 on December 4th

Global Ship Lease, Inc. (NYSE:GSL) announced a quarterly dividend on Monday, November 11th,Zacks Dividends reports. Shareholders of record on Friday, November 22nd will be given a dividend of 0.45 per share by the shipping company on Wednesday, December 4th. This represents a $1.80 annualized dividend and a yield of 7.75%. The ex-dividend date is Friday, November 22nd.

Global Ship Lease has a dividend payout ratio of 15.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Global Ship Lease to earn $8.44 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 17.8%.

Global Ship Lease Trading Down 0.1 %

GSL opened at $23.23 on Wednesday. The company has a current ratio of 1.42, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $856.26 million, a PE ratio of 2.57 and a beta of 1.62. Global Ship Lease has a 1-year low of $17.00 and a 1-year high of $30.32. The firm has a 50-day moving average price of $24.55 and a two-hundred day moving average price of $25.95.

Global Ship Lease (NYSE:GSL) last issued its quarterly earnings results on Monday, November 11th. The shipping company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.43 by $0.02. Global Ship Lease had a net margin of 46.38% and a return on equity of 28.59%. The company had revenue of $174.06 million during the quarter, compared to analysts’ expectations of $175.83 million. During the same quarter in the previous year, the company earned $2.33 EPS. As a group, equities analysts anticipate that Global Ship Lease will post 9.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on GSL shares. 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. Jefferies Financial Group reaffirmed a “buy” rating and issued a $29.00 price target on shares of Global Ship Lease in a research note on Monday. Finally, Clarkson Capital raised shares of Global Ship Lease from a “neutral” rating to a “buy” rating in a research report on Thursday, August 8th.

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.