Global Ship Lease (NYSE:GSL) Releases Earnings Results, Beats Estimates By $0.02 EPS

Posted by Faye Duncan on Nov 13th, 2024

Global Ship Lease (NYSE:GSL – Get Free Report) issued its earnings results on Monday. The shipping company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.02, RTT News reports. Global Ship Lease had a net margin of 46.38% and a return on equity of 28.59%. The business had revenue of $174.06 million for the quarter, compared to analyst estimates of $175.83 million. During the same period in the prior year, the firm earned $2.33 earnings per share.

Global Ship Lease Stock Performance

Shares of Global Ship Lease stock opened at $23.23 on Wednesday. The business’s fifty day simple moving average is $24.55 and its 200 day simple moving average is $25.95. The company has a current ratio of 1.42, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40. Global Ship Lease has a 12 month low of $17.00 and a 12 month high of $30.32. The firm has a market capitalization of $856.26 million, a P/E ratio of 2.57 and a beta of 1.62.

Global Ship Lease Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GSL. Clarkson Capital raised Global Ship Lease from a “neutral” rating to a “buy” rating in a research note on Thursday, August 8th. Jefferies Financial Group restated a “buy” rating and issued a $29.00 target price on shares of Global Ship Lease in a report on Monday. Finally, StockNews.com downgraded Global Ship Lease from a “strong-buy” rating to a “buy” rating in a report on Friday, October 25th.

View Our Latest Stock Report on Global Ship Lease

About Global Ship Lease

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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.