Global Ship Lease, Inc. (GSL) to Distribute Quarterly Dividend of $0.62 on September 3rd

Global Ship Lease, Inc. (NYSE:GSL) declared a quarterly dividend on Thursday, July 30th. Stockholders of record on Friday, August 21st will be paid a dividend of 0.625 per share by the shipping company on Thursday, September 3rd. This represents a c) annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Friday, August 21st.

Global Ship Lease has a payout ratio of 27.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Global Ship Lease to earn $10.10 per share next year, which means the company should continue to be able to cover its $2.50 annual dividend with an expected future payout ratio of 24.8%.

Global Ship Lease Price Performance

GSL opened at $43.20 on Wednesday. The company has a current ratio of 2.13, a quick ratio of 2.06 and a debt-to-equity ratio of 0.27. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 4.15 and a beta of 0.90. The stock has a fifty day simple moving average of $40.66 and a two-hundred day simple moving average of $39.41. Global Ship Lease has a 12-month low of $27.28 and a 12-month high of $44.69.

Global Ship Lease (NYSE:GSL) last released its earnings results on Wednesday, August 5th. The shipping company reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.06. Global Ship Lease had a net margin of 49.10% and a return on equity of 19.92%. The firm had revenue of $198.69 million for the quarter, compared to the consensus estimate of $186.85 million. During the same period in the prior year, the firm earned $2.67 EPS. The company’s revenue was up 3.9% compared to the same quarter last year. Research analysts predict that Global Ship Lease will post 9.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GSL. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Global Ship Lease in a report on Friday, July 17th. Wall Street Zen cut Global Ship Lease from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Fearnley Fonds raised shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Zacks Research raised shares of Global Ship Lease from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. Finally, Jefferies Financial Group upped their price objective on Global Ship Lease from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $51.00.

Global Ship Lease Company Profile

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.