Global Ship Lease, Inc. (NYSE:GSL) Declares Dividend Increase – $0.63 Per Share

Global Ship Lease, Inc. (NYSE:GSL) declared a quarterly dividend on Monday, November 10th. Shareholders 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) dividend on an annualized basis and a yield of 7.2%. The ex-dividend date of this dividend 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 payout ratio of 23.0% meaning its dividend is sufficiently covered by earnings. Equities 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 $2.10 annual dividend with an expected future payout ratio of 22.3%.

Global Ship Lease Price Performance

Shares of GSL stock traded up $3.01 during trading on Monday, hitting $34.69. The company had a trading volume of 1,096,193 shares, compared to its average volume of 369,439. The stock’s 50-day moving average is $30.54 and its two-hundred day moving average is $28.04. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 3.22 and a beta of 1.20. The company has a quick ratio of 1.94, a current ratio of 2.01 and a debt-to-equity ratio of 0.37. Global Ship Lease has a 52 week low of $17.73 and a 52 week high of $34.77.

Global Ship Lease (NYSE:GSL) last posted its quarterly earnings data on Monday, November 10th. The shipping company reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.35. Global Ship Lease had a return on equity of 24.81% and a net margin of 53.09%.The firm’s revenue was up 10.7% on a year-over-year basis. As a group, analysts predict that Global Ship Lease will post 9.74 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Jefferies Financial Group increased their price objective on Global Ship Lease from $33.00 to $39.00 and gave the stock a “buy” rating in a report on Monday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Global Ship Lease in a research report on Wednesday, October 8th. Zacks Research upgraded shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Finally, Wall Street Zen raised 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 assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $33.50.

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.