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

Global Ship Lease, Inc. (NYSE:GSL - Get Free Report) declared a quarterly dividend on Monday, November 11th,Zacks Dividends reports. Shareholders of record on Friday, November 22nd will be paid a dividend of 0.45 per share by the shipping company on Wednesday, December 4th. This represents a $1.80 dividend on an annualized basis and a yield of 7.74%. The ex-dividend date is Friday, November 22nd.

Global Ship Lease has a dividend payout ratio of 15.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Global Ship Lease to earn $8.44 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 17.8%.

Global Ship Lease Stock Down 0.0 %

NYSE GSL traded down $0.01 during mid-day trading on Tuesday, hitting $23.25. The company's stock had a trading volume of 495,694 shares, compared to its average volume of 559,622. The company has a current ratio of 1.42, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40. The company's 50 day simple moving average is $24.55 and its 200 day simple moving average is $25.95. Global Ship Lease has a twelve month low of $17.00 and a twelve month high of $30.32. The firm has a market capitalization of $857.04 million, a price-to-earnings ratio of 2.54 and a beta of 1.62.

Global Ship Lease (NYSE:GSL - Get Free Report) last issued its quarterly earnings data on Monday, November 11th. The shipping company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.43 by $0.02. Global Ship Lease had a return on equity of 28.92% and a net margin of 46.90%. The company had revenue of $174.06 million during the quarter, compared to analyst estimates of $175.83 million. During the same quarter in the previous year, the firm earned $2.33 earnings per share. Analysts anticipate that Global Ship Lease will post 9.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. 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. Jefferies Financial Group reaffirmed a "buy" rating and set a $29.00 price objective on shares of Global Ship Lease in a research note on Monday. Finally, Clarkson Capital upgraded Global Ship Lease from a "neutral" rating to a "buy" rating in a research report on Thursday, August 8th.

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.