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

Global Ship Lease, Inc. (NYSE:GSL) announced a quarterly dividend on Wednesday, February 12th,RTT News reports. Stockholders 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 8.04%.

Global Ship Lease has raised its dividend payment by an average of 28.1% per year over the last three years. Global Ship Lease has a dividend payout ratio of 22.9% meaning 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 Stock Up 0.9 %

NYSE:GSL opened at $22.39 on Thursday. The business’s fifty day moving average price is $21.80 and its 200 day moving average price is $23.64. The firm has a market capitalization of $825.30 million, a price-to-earnings ratio of 2.48 and a beta of 1.53. The company has a current ratio of 1.64, a quick ratio of 1.58 and a debt-to-equity ratio of 0.38. Global Ship Lease has a 1-year low of $18.75 and a 1-year high of $30.32.

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

Analyst Ratings Changes

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

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.