Global Ship Lease (NYSE:GSL) Announces Earnings Results, Beats Expectations 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 (EPS) for the quarter, beating the consensus estimate 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 Price Performance

Global Ship Lease stock traded up $1.46 during mid-day trading on Wednesday, reaching $22.78. 116,202 shares of the company were exchanged, compared to its average volume of 340,070. The company has a fifty day simple moving average of $21.95 and a 200-day simple moving average of $23.21. The firm has a market cap of $839.75 million, a PE ratio of 2.50 and a beta of 1.53. 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 has a 12 month low of $19.22 and a 12 month high of $30.32.

Global Ship Lease Announces Dividend

The firm also recently declared 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 is Monday, February 24th. This represents a $1.80 annualized dividend and a dividend yield of 7.90%. Global Ship Lease’s dividend payout ratio (DPR) is presently 19.93%.

Wall Street Analyst Weigh In

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

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.