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

Global Ship Lease, Inc. (NYSE:GSL) declared a quarterly dividend on Wednesday, February 12th,RTT News reports. Investors of record on Monday, February 24th will be given a dividend of 0.45 per share by the shipping company on Thursday, March 6th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.00%. The ex-dividend date of this dividend is Monday, February 24th.

Global Ship Lease has increased its dividend payment by an average of 28.1% annually over the last three years. Global Ship Lease has a payout ratio of 22.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Global Ship Lease to earn $9.40 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 19.1%.

Global Ship Lease Trading Up 0.4 %

NYSE GSL opened at $22.51 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.64 and a quick ratio of 1.58. The firm’s fifty day moving average price is $21.79 and its 200 day moving average price is $23.63. The company has a market capitalization of $829.72 million, a price-to-earnings ratio of 2.49 and a beta of 1.53. Global Ship Lease has a 12 month low of $18.75 and a 12 month high of $30.32.

Global Ship Lease (NYSE:GSL) last issued its quarterly earnings results 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. The firm had revenue of $174.06 million during the quarter, compared to analysts’ expectations of $175.83 million. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. During the same quarter in the prior year, the business earned $2.33 EPS. On average, sell-side analysts expect that Global Ship Lease will post 9.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GSL. Clarkson Capital cut shares of Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 price target for the company. in a research note on Thursday, November 14th. StockNews.com cut shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 25th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $29.00 price target on shares of Global Ship Lease in a research note on Monday, November 11th.

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.