B. Riley Forecasts Stronger Earnings for Global Ship Lease

Global Ship Lease, Inc. (NYSE:GSL) – B. Riley lifted their FY2024 EPS estimates for shares of Global Ship Lease in a report issued on Tuesday, November 12th. B. Riley analyst L. Burke now expects that the shipping company will post earnings of $9.70 per share for the year, up from their prior estimate 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.

Global Ship Lease (NYSE:GSL) last released its earnings results on Monday, November 11th. The shipping company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.02. The company had revenue of $174.06 million during the quarter, compared to analysts’ expectations of $175.83 million. Global Ship Lease had a return on equity of 28.59% and a net margin of 46.38%. During the same quarter last year, the business posted $2.33 EPS.

Several other equities analysts have also issued reports on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $29.00 target price on shares of Global Ship Lease in a report on Monday. Clarkson Capital lowered Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 price objective for the company. in a research report on Thursday. Finally, StockNews.com downgraded Global Ship Lease from a “strong-buy” rating to a “buy” rating in a report on Friday, October 25th.

Global Ship Lease Stock Down 2.5 %

Shares of Global Ship Lease stock opened at $23.82 on Wednesday. Global Ship Lease has a 1 year low of $17.47 and a 1 year high of $30.32. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.42 and a quick ratio of 1.36. The company has a 50-day moving average of $24.54 and a 200 day moving average of $25.94. The firm has a market cap of $878.01 million, a price-to-earnings ratio of 2.66 and a beta of 1.62.

Global Ship Lease Announces Dividend

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 paid 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 7.56%. Global Ship Lease’s dividend payout ratio is presently 16.61%.

Institutional Investors Weigh In On Global Ship Lease

Institutional investors have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd lifted its position in Global Ship Lease by 12.2% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 30,992 shares of the shipping company’s stock valued at $826,000 after acquiring an additional 3,377 shares in the last quarter. Foundry Partners LLC raised its stake in shares of Global Ship Lease by 45.2% in the third quarter. Foundry Partners LLC now owns 475,956 shares of the shipping company’s stock worth $12,684,000 after purchasing an additional 148,247 shares during the last quarter. Moran Wealth Management LLC bought a new position in shares of Global Ship Lease during the third quarter valued at $2,894,000. Moors & Cabot Inc. lifted its holdings in shares of Global Ship Lease by 2.2% during the third quarter. Moors & Cabot Inc. now owns 33,150 shares of the shipping company’s stock valued at $883,000 after purchasing an additional 700 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its position in shares of Global Ship Lease by 62.5% during the third quarter. GSA Capital Partners LLP now owns 173,391 shares of the shipping company’s stock valued at $4,621,000 after buying an additional 66,714 shares during the last quarter. Hedge funds and other institutional investors own 50.08% of the company’s stock.

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.