FY2024 EPS Forecast for Global Ship Lease Raised by Analyst

Global Ship Lease, Inc. (NYSE:GSL) – Investment analysts at B. Riley raised their FY2024 earnings per share (EPS) estimates for Global Ship Lease in a research note issued to investors on Tuesday, November 12th. B. Riley analyst L. Burke now forecasts that the shipping company will post earnings of $9.70 per share for the year, up from their previous 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.

GSL has been the topic of a number of other reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $29.00 target price on shares of Global Ship Lease in a research report on Monday. StockNews.com downgraded Global Ship Lease from a “strong-buy” rating to a “buy” rating in a report on Friday, October 25th. Finally, Clarkson Capital upgraded Global Ship Lease from a “neutral” rating to a “buy” rating in a report on Thursday, August 8th.

Global Ship Lease Trading Down 0.1 %

Shares of GSL opened at $23.23 on Wednesday. The firm has a market capitalization of $856.26 million, a price-to-earnings ratio of 2.57 and a beta of 1.62. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.42 and a quick ratio of 1.36. Global Ship Lease has a 1-year low of $17.00 and a 1-year high of $30.32. The company has a 50-day moving average of $24.55 and a 200 day moving average of $25.95.

Global Ship Lease (NYSE:GSL) last released its earnings results on Monday, November 11th. The shipping company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.02. The business had revenue of $174.06 million during the quarter, compared to the consensus estimate of $175.83 million. Global Ship Lease had a return on equity of 28.59% and a net margin of 46.38%. During the same period last year, the company earned $2.33 earnings per share.

Hedge Funds Weigh In On Global Ship Lease

Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC purchased a new stake in Global Ship Lease during the second quarter worth $2,130,000. Marshall Wace LLP raised its position in shares of Global Ship Lease by 275.5% in the 2nd quarter. Marshall Wace LLP now owns 1,068,524 shares of the shipping company’s stock worth $30,763,000 after acquiring an additional 783,963 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Global Ship Lease by 126.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 90,840 shares of the shipping company’s stock worth $2,421,000 after purchasing an additional 50,660 shares during the last quarter. Sei Investments Co. boosted its position in Global Ship Lease by 780.1% during the second quarter. Sei Investments Co. now owns 103,658 shares of the shipping company’s stock valued at $2,984,000 after purchasing an additional 91,880 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in Global Ship Lease by 147.1% during the third quarter. Harbor Capital Advisors Inc. now owns 506,085 shares of the shipping company’s stock valued at $13,487,000 after purchasing an additional 301,280 shares in the last quarter. 50.08% of the stock is currently owned by institutional investors.

Global Ship Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Friday, November 22nd will be given a $0.45 dividend. The ex-dividend date is Friday, November 22nd. This represents a $1.80 annualized dividend and a dividend yield of 7.75%. Global Ship Lease’s payout ratio is presently 16.61%.

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.