Global Ship Lease (NYSE:GSL) Issues Earnings Results, Beats Expectations By $0.25 EPS

Global Ship Lease (NYSE:GSL - Get Free Report) announced its quarterly earnings data on Wednesday. The shipping company reported $2.55 earnings per share for the quarter, topping 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 Stock Performance

NYSE:GSL opened at $22.59 on Wednesday. The stock's 50-day moving average is $21.95 and its 200-day moving average is $23.21. The stock has a market cap of $832.86 million, a P/E ratio of 2.36 and a beta of 1.53. Global Ship Lease has a 1-year low of $18.78 and a 1-year high of $30.32. The company has a current ratio of 1.64, a quick ratio of 1.58 and a debt-to-equity ratio of 0.38.

Global Ship Lease Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Monday, February 24th will be given a $0.45 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.80 dividend on an annualized basis and a yield of 7.97%. Global Ship Lease's dividend payout ratio is currently 19.93%.

Wall Street Analysts Forecast Growth

GSL has been the subject of a number of recent analyst reports. Jefferies Financial Group reaffirmed a "buy" rating and issued a $29.00 price target on shares of Global Ship Lease in a research note on Monday, November 11th. Clarkson Capital lowered shares of Global Ship Lease from a "buy" rating to a "neutral" rating and set a $27.00 price target on the stock. in a research report on Thursday, November 14th. Finally, StockNews.com raised shares of Global Ship Lease from a "buy" rating to a "strong-buy" rating in a report on Tuesday, February 25th.

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.

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