B. Riley Equities Analysts Lift Earnings Estimates for GSL

Global Ship Lease, Inc. (NYSE:GSL) – Investment analysts at B. Riley lifted their FY2024 earnings estimates for shares of Global Ship Lease in a research note issued on Tuesday, November 12th. B. Riley analyst L. Burke now forecasts that the shipping company will earn $9.70 per share for the year, up from their previous 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 posted its earnings results on Monday, November 11th. The shipping company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.02. The company had revenue of $174.06 million for the quarter, compared to analyst estimates 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 in the previous year, the firm earned $2.33 earnings per share.

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

Global Ship Lease Trading Up 5.1 %

NYSE GSL opened at $24.43 on Wednesday. The firm has a market cap of $900.31 million, a PE ratio of 2.63 and a beta of 1.62. Global Ship Lease has a 52 week low of $17.40 and a 52 week high of $30.32. The company has a quick ratio of 1.36, a current ratio of 1.42 and a debt-to-equity ratio of 0.40. The company has a 50 day moving average price of $24.53 and a 200 day moving average price of $25.95.

Hedge Funds Weigh In On Global Ship Lease

Institutional investors have recently bought and sold shares of the business. Signaturefd LLC raised its holdings in shares of Global Ship Lease by 23.3% during the second quarter. Signaturefd LLC now owns 2,526 shares of the shipping company’s stock worth $73,000 after purchasing an additional 477 shares during the last quarter. Mather Group LLC. acquired a new position in shares of Global Ship Lease in the second quarter worth about $88,000. Blue Trust Inc. boosted its stake in shares of Global Ship Lease by 2,642.1% during the 2nd quarter. Blue Trust Inc. now owns 3,126 shares of the shipping company’s stock worth $90,000 after acquiring an additional 3,012 shares in the last quarter. Fairscale Capital LLC acquired a new stake in shares of Global Ship Lease during the 2nd quarter valued at about $107,000. Finally, nVerses Capital LLC grew its position in shares of Global Ship Lease by 355.6% during the 2nd quarter. nVerses Capital LLC now owns 4,100 shares of the shipping company’s stock valued at $118,000 after acquiring an additional 3,200 shares during the period. 50.08% of the stock is owned by hedge funds and other institutional investors.

Global Ship Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Friday, November 22nd will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.80 dividend on an annualized basis and a yield of 7.37%. Global Ship Lease’s dividend payout ratio is currently 16.61%.

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.