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

Global Ship Lease, Inc. (NYSE:GSLGet Free Report) 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:GSLGet Free Report) 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.

View Our Latest Report on Global Ship Lease

Global Ship Lease Company Profile

(Get Free Report)

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.

See Also

Dividend History for Global Ship Lease (NYSE:GSL)

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