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

Global Ship Lease, Inc. (NYSE:GSL) declared a quarterly dividend on Monday, November 11th,Zacks Dividends reports. Shareholders of record on Friday, November 22nd will be given a dividend of 0.45 per share by the shipping company on Wednesday, December 4th. This represents a $1.80 annualized dividend and a dividend yield of 7.74%. The ex-dividend date of this dividend is Friday, November 22nd.

Global Ship Lease has a dividend payout ratio of 15.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Global Ship Lease to earn $8.44 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 17.8%.

Global Ship Lease Stock Performance

NYSE:GSL opened at $23.26 on Tuesday. The company has a fifty day simple moving average of $24.55 and a two-hundred day simple moving average of $25.95. The company has a market cap of $857.41 million, a price-to-earnings ratio of 2.54 and a beta of 1.62. The company has a quick ratio of 1.36, a current ratio of 1.42 and a debt-to-equity ratio of 0.40. Global Ship Lease has a 52 week low of $17.00 and a 52 week high of $30.32.

Global Ship Lease (NYSE:GSL) last issued its earnings results on Monday, November 11th. The shipping company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.02. Global Ship Lease had a net margin of 46.90% and a return on equity of 28.92%. During the same quarter in the prior year, the company earned $2.33 earnings per share. As a group, equities analysts anticipate that Global Ship Lease will post 9.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GSL has been the subject of a number of analyst reports. Clarkson Capital upgraded shares of Global Ship Lease from a “neutral” rating to a “buy” rating in a research note on Thursday, August 8th. StockNews.com downgraded 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 target price on shares of Global Ship Lease in a research note on Monday.

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.