Global Ship Lease, Inc. (GSL) To Go Ex-Dividend on November 21st

Global Ship Lease, Inc. (NYSE:GSL) announced a quarterly dividend on Monday, November 10th. Investors of record on Friday, November 21st will be paid a dividend of 0.625 per share by the shipping company on Thursday, December 4th. This represents a c) annualized dividend and a yield of 7.1%. The ex-dividend date is Friday, November 21st. This is a 14.3% increase from Global Ship Lease’s previous quarterly dividend of $0.55.

Global Ship Lease has a dividend payout ratio of 27.4% 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 $2.50 annual dividend with an expected future payout ratio of 26.6%.

Global Ship Lease Price Performance

Shares of GSL opened at $35.20 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.01 and a quick ratio of 1.94. Global Ship Lease has a 1-year low of $17.73 and a 1-year high of $35.59. The stock has a market cap of $1.26 billion, a PE ratio of 3.27 and a beta of 1.20. The firm has a fifty day moving average price of $30.95 and a 200 day moving average price of $28.59.

Global Ship Lease (NYSE:GSL) last posted its earnings results on Monday, November 10th. The shipping company reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.35. The business had revenue of $192.67 million for the quarter, compared to analysts’ expectations of $180.36 million. Global Ship Lease had a return on equity of 24.81% and a net margin of 53.09%.The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Global Ship Lease will post 9.74 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Zacks Research raised Global Ship Lease from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of Global Ship Lease in a research note on Wednesday, October 8th. Jefferies Financial Group raised their price objective on shares of Global Ship Lease from $33.00 to $39.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Finally, Wall Street Zen upgraded shares of Global Ship Lease from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $33.50.

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.