Global Ship Lease, Inc. (NYSE:GSL) Declares $0.45 Quarterly Dividend

Global Ship Lease, Inc. (NYSE:GSL) declared a quarterly dividend on Wednesday, February 12th,RTT News reports. Shareholders of record on Monday, February 24th will be paid a dividend of 0.45 per share by the shipping company on Thursday, March 6th. This represents a $1.80 annualized dividend and a yield of 8.04%.

Global Ship Lease has raised its dividend payment by an average of 28.1% per year over the last three years. Global Ship Lease has a dividend payout ratio of 22.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Global Ship Lease to earn $9.40 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 19.1%.

Global Ship Lease Price Performance

Shares of Global Ship Lease stock opened at $22.39 on Thursday. The company has a current ratio of 1.64, a quick ratio of 1.58 and a debt-to-equity ratio of 0.38. The firm has a fifty day simple moving average of $21.80 and a 200-day simple moving average of $23.64. The stock has a market capitalization of $825.30 million, a price-to-earnings ratio of 2.48 and a beta of 1.53. Global Ship Lease has a 1-year low of $18.75 and a 1-year high of $30.32.

Global Ship Lease (NYSE:GSL) last released its earnings results on Monday, November 11th. The shipping company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.02. The firm had revenue of $174.06 million during the quarter, compared to analyst estimates of $175.83 million. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. During the same quarter in the previous year, the business earned $2.33 EPS. On average, sell-side analysts expect that Global Ship Lease will post 9.74 earnings per share for the current year.

Analysts Set New Price Targets

GSL has been the subject of several recent analyst reports. Jefferies Financial Group restated a “buy” rating and set a $29.00 target price on shares of Global Ship Lease in a research note on Monday, November 11th. StockNews.com cut Global Ship Lease from a “strong-buy” rating to a “buy” rating in a report on Friday, October 25th. Finally, Clarkson Capital downgraded Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 target price on the stock. in a report 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.