Global Ship Lease (NYSE:GSL) Posts Earnings Results, Beats Expectations By $0.03 EPS

Global Ship Lease (NYSE:GSL) issued its quarterly earnings results on Wednesday. The shipping company reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.03, Briefing.com reports. Global Ship Lease had a return on equity of 21.11% and a net margin of 50.01%.The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.67 earnings per share.

Global Ship Lease Price Performance

Shares of GSL stock traded down $0.73 on Wednesday, hitting $42.72. 246,967 shares of the company’s stock were exchanged, compared to its average volume of 339,152. The company has a 50 day moving average of $39.71 and a 200 day moving average of $38.98. The stock has a market cap of $1.53 billion, a P/E ratio of 4.05 and a beta of 0.90. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.26 and a quick ratio of 2.21. Global Ship Lease has a 12 month low of $27.28 and a 12 month high of $44.69.

Global Ship Lease Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Friday, May 22nd were issued a dividend of $0.625 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.9%. Global Ship Lease’s payout ratio is 23.74%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GSL. Triumph Capital Management acquired a new stake in shares of Global Ship Lease in the 3rd quarter valued at approximately $25,000. Northwestern Mutual Wealth Management Co. acquired a new position in Global Ship Lease during the 4th quarter worth approximately $29,000. Russell Investments Group Ltd. increased its position in Global Ship Lease by 73.9% during the 4th quarter. Russell Investments Group Ltd. now owns 1,673 shares of the shipping company’s stock worth $59,000 after purchasing an additional 711 shares in the last quarter. Advisory Services Network LLC bought a new position in Global Ship Lease in the 3rd quarter valued at approximately $191,000. Finally, Virtus Advisers LLC boosted its position in Global Ship Lease by 46.9% in the fourth quarter. Virtus Advisers LLC now owns 5,437 shares of the shipping company’s stock valued at $191,000 after buying an additional 1,737 shares in the last quarter. Institutional investors and hedge funds own 50.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on GSL shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Global Ship Lease in a report on Friday, July 17th. Jefferies Financial Group assumed coverage on Global Ship Lease in a research report on Friday, April 24th. They issued a “buy” rating and a $45.00 price target on the stock. Wall Street Zen raised shares of Global Ship Lease from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Zacks Research upgraded shares of Global Ship Lease from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Finally, Fearnley Fonds raised shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Global Ship Lease has an average rating of “Buy” and a consensus price target of $46.50.

About Global Ship Lease

Global Ship Lease (NYSE: GSL) is a Bermuda-based containership charter owner focused on acquiring, owning and leasing modern, fuel-efficient vessels to major liner operators. Founded in 2011 and listed on the New York Stock Exchange the same year, the company’s fleet primarily comprises post-Panamax containerships designed to serve the high-volume Asia–Europe and transpacific shipping lanes. By specializing in long-term charter agreements, Global Ship Lease aims to maintain stable revenue streams and minimize spot-market volatility.

The company’s business model centers on negotiating multi-year time charters with leading global shipping lines.