B. Riley Expects Increased Earnings for Global Ship Lease

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

Other research analysts have also recently issued reports about the company. StockNews.com cut Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 25th. Clarkson Capital raised shares of Global Ship Lease from a “neutral” rating to a “buy” rating in a research report on Thursday, August 8th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $29.00 price objective on shares of Global Ship Lease in a report on Monday.

Global Ship Lease Stock Performance

Shares of GSL opened at $23.23 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.42. The stock has a 50-day moving average of $24.55 and a two-hundred day moving average of $25.95. The stock has a market cap of $856.26 million, a P/E ratio of 2.57 and a beta of 1.62. Global Ship Lease has a one year low of $17.00 and a one year high of $30.32.

Global Ship Lease (NYSE:GSL) last announced its quarterly earnings data on Monday, November 11th. The shipping company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.02. Global Ship Lease had a net margin of 46.38% and a return on equity of 28.59%. The firm had revenue of $174.06 million for the quarter, compared to analyst estimates of $175.83 million. During the same period in the previous year, the company earned $2.33 earnings per share.

Global Ship Lease Dividend Announcement

The business also recently disclosed 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 of this dividend is Friday, November 22nd. This represents a $1.80 annualized dividend and a dividend yield of 7.75%. Global Ship Lease’s dividend payout ratio (DPR) is presently 16.61%.

Institutional Trading of Global Ship Lease

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in Global Ship Lease in the second quarter valued at approximately $2,130,000. Marshall Wace LLP increased its holdings in shares of Global Ship Lease by 275.5% during the 2nd quarter. Marshall Wace LLP now owns 1,068,524 shares of the shipping company’s stock valued at $30,763,000 after purchasing 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% in the 3rd quarter. Janney Montgomery Scott LLC now owns 90,840 shares of the shipping company’s stock valued at $2,421,000 after purchasing an additional 50,660 shares during the period. Sei Investments Co. boosted its holdings 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 worth $2,984,000 after buying an additional 91,880 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its holdings 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 worth $13,487,000 after buying an additional 301,280 shares in the last quarter. 50.08% of the stock is owned by institutional investors and hedge funds.

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.