FY2024 EPS Forecast for Global Ship Lease Boosted by Analyst

Global Ship Lease, Inc. (NYSE:GSL - Free Report) - Investment analysts at B. Riley raised their FY2024 earnings estimates for shares of Global Ship Lease in a report released on Tuesday, November 12th. B. Riley analyst L. Burke now anticipates that the shipping company will earn $9.70 per share for the year, up from their prior forecast of $9.58. The consensus estimate for Global Ship Lease's current full-year earnings is $9.85 per share. B. Riley also issued estimates for Global Ship Lease's Q4 2024 earnings at $2.25 EPS.

Several other analysts have also issued reports on GSL. StockNews.com lowered Global Ship Lease from a "strong-buy" rating to a "buy" rating in a report on Friday, October 25th. 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. Finally, Clarkson Capital raised shares of Global Ship Lease from a "neutral" rating to a "buy" rating in a report on Thursday, August 8th.

Global Ship Lease Stock Performance

Shares of NYSE GSL traded up $1.18 during midday trading on Wednesday, hitting $24.43. 470,440 shares of the stock traded hands, compared to its average volume of 559,216. The firm has a 50-day moving average of $24.53 and a two-hundred day moving average of $25.95. The firm has a market capitalization of $900.31 million, a P/E ratio of 2.63 and a beta of 1.62. Global Ship Lease has a one year low of $17.40 and a one year high of $30.32. 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 (NYSE:GSL - Get Free Report) last released its earnings results on Monday, November 11th. The shipping company reported $2.45 EPS for the quarter, beating analysts' consensus estimates of $2.43 by $0.02. Global Ship Lease had a return on equity of 28.59% and a net margin of 46.38%. The company had revenue of $174.06 million during the quarter, compared to analysts' expectations of $175.83 million. During the same quarter last year, the business posted $2.33 EPS.

Institutional Investors Weigh In On Global Ship Lease

Several institutional investors and hedge funds have recently modified their holdings of GSL. Signaturefd LLC boosted its holdings in shares of Global Ship Lease by 23.3% in the 2nd quarter. Signaturefd LLC now owns 2,526 shares of the shipping company's stock worth $73,000 after purchasing an additional 477 shares during the period. Simplicity Wealth LLC raised its holdings in Global Ship Lease by 3.2% in the third quarter. Simplicity Wealth LLC now owns 16,236 shares of the shipping company's stock worth $433,000 after purchasing an additional 505 shares in the last quarter. Moors & Cabot Inc. boosted its position in shares of Global Ship Lease by 2.2% in the 3rd quarter. Moors & Cabot Inc. now owns 33,150 shares of the shipping company's stock worth $883,000 after purchasing an additional 700 shares in the last quarter. Tidal Investments LLC grew its position in Global Ship Lease by 14.8% during the 1st quarter. Tidal Investments LLC now owns 15,832 shares of the shipping company's stock worth $321,000 after purchasing an additional 2,038 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. raised its stake in shares of Global Ship Lease by 6.5% in the second quarter. Redhawk Wealth Advisors Inc. now owns 37,987 shares of the shipping company's stock worth $1,094,000 after purchasing an additional 2,313 shares during the last quarter. Institutional investors own 50.08% of the company's stock.

Global Ship Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 7.37%. The ex-dividend date is Friday, November 22nd. Global Ship Lease's dividend payout ratio (DPR) is currently 16.61%.

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.