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

Posted by Trent Williams on Nov 12th, 2024

Global Ship Lease (NYSE:GSL – Get Free Report) posted its earnings results on Monday. The shipping company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.02, RTT News reports. Global Ship Lease had a return on equity of 28.92% and a net margin of 46.90%. During the same quarter in the prior year, the company posted $2.33 earnings per share.

Global Ship Lease Price Performance

GSL stock opened at $23.26 on Tuesday. The stock has a market cap of $857.41 million, a PE ratio of 2.54 and a beta of 1.62. Global Ship Lease has a 12 month low of $17.00 and a 12 month high of $30.32. The company has a 50-day moving average price of $24.55 and a 200 day moving average price of $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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Friday, November 22nd will be issued a $0.45 dividend. The ex-dividend date is Friday, November 22nd. This represents a $1.80 annualized dividend and a dividend yield of 7.74%. Global Ship Lease’s dividend payout ratio (DPR) is presently 16.39%.

Analysts Set New Price Targets

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

Get Our Latest Stock Analysis on Global Ship Lease

Global Ship Lease Company Profile

(Get Free Report)

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.