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

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

Global Ship Lease Stock Performance

Shares of GSL stock opened at $22.59 on Wednesday. The firm has a market capitalization of $832.86 million, a price-to-earnings ratio of 2.36 and a beta of 1.53. The stock has a fifty day moving average of $21.95 and a 200 day moving average of $23.21. Global Ship Lease has a 52 week low of $18.78 and a 52 week high of $30.32. The company has a quick ratio of 1.58, a current ratio of 1.64 and a debt-to-equity ratio of 0.38.

Global Ship Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Monday, February 24th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.80 annualized dividend and a dividend yield of 7.97%. Global Ship Lease’s payout ratio is presently 19.93%.

Wall Street Analysts Forecast Growth

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

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.