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

Global Ship Lease (NYSE:GSL) 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.

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.