Global Ship Lease (NYSE:GSL) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Global Ship Lease (NYSE:GSLGet Free Report) issued its quarterly earnings data on Monday. The shipping company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.02, RTT News reports. The firm had revenue of $174.06 million for 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 28.59%. During the same period in the previous year, the firm earned $2.33 EPS.

Global Ship Lease Stock Up 5.1 %

GSL stock opened at $24.43 on Thursday. The company’s 50 day moving average price is $24.53 and its 200 day moving average price is $25.95. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.42. Global Ship Lease has a fifty-two week low of $17.40 and a fifty-two week high of $30.32. The firm has a market capitalization of $900.31 million, a price-to-earnings ratio of 2.63 and a beta of 1.62.

Global Ship Lease Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Friday, November 22nd will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, November 22nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.37%. Global Ship Lease’s payout ratio is 16.61%.

Analyst Ratings Changes

GSL has been the topic of a number of recent research reports. Jefferies Financial Group reiterated a “buy” rating and set a $29.00 price target on shares of Global Ship Lease in a research note on Monday. 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. Finally, Clarkson Capital upgraded shares of Global Ship Lease from a “neutral” rating to a “buy” rating in a research note on Thursday, August 8th.

Read Our Latest Analysis on GSL

About Global Ship Lease

(Get Free Report)

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.

Featured Articles

Earnings History for Global Ship Lease (NYSE:GSL)

Receive News & Ratings for Global Ship Lease Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Ship Lease and related companies with MarketBeat.com's FREE daily email newsletter.