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

Global Ship Lease, Inc. (NYSE:GSL) 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 annualized dividend and a yield of 7.63%. The ex-dividend date of this dividend is Friday, November 22nd.

Global Ship Lease has a payout ratio of 16.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Global Ship Lease to earn $8.69 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 17.3%.

Global Ship Lease Price Performance

Shares of GSL stock opened at $23.60 on Wednesday. Global Ship Lease has a twelve month low of $17.47 and a twelve month high of $30.32. The stock has a market capitalization of $869.94 million, a price-to-earnings ratio of 2.61 and a beta of 1.62. The stock has a fifty day simple moving average of $24.57 and a two-hundred day simple moving average of $25.98. 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 (NYSE:GSL) last issued its quarterly earnings data on Monday, November 11th. The shipping company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.02. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. The firm had revenue of $174.06 million during the quarter, compared to analysts’ expectations of $175.83 million. During the same period in the prior year, the business posted $2.33 EPS. On average, analysts predict that Global Ship Lease will post 9.85 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GSL shares. Clarkson Capital cut Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 price objective for the company. in a research note on Thursday, November 14th. Jefferies Financial Group restated a “buy” rating and issued a $29.00 price objective on shares of Global Ship Lease in a research report on Monday, November 11th. Finally, StockNews.com cut Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 25th.

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.