Zacks: Analysts Anticipate Global Ship Lease, Inc. (NYSE:GSL) Will Announce Quarterly Sales of $148.40 Million

Equities research analysts forecast that Global Ship Lease, Inc. (NYSE:GSL – Get Rating) will post sales of $148.40 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Global Ship Lease’s earnings. The lowest sales estimate is $144.83 million and the highest is $151.97 million. Global Ship Lease posted sales of $72.98 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 103.3%. The company is expected to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Global Ship Lease will report full-year sales of $596.10 million for the current year, with estimates ranging from $586.18 million to $606.03 million. For the next fiscal year, analysts anticipate that the business will report sales of $625.63 million, with estimates ranging from $609.55 million to $641.71 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that that provide coverage for Global Ship Lease.

Global Ship Lease (NYSE:GSL – Get Rating) last announced its earnings results on Wednesday, March 2nd. The shipping company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.58. The business had revenue of $153.53 million for the quarter, compared to analysts’ expectations of $125.03 million. Global Ship Lease had a return on equity of 28.15% and a net margin of 38.28%. During the same quarter last year, the firm earned $0.38 EPS.

GSL has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Global Ship Lease from a “sell” rating to a “hold” rating and set a $32.00 target price for the company in a research note on Wednesday, March 2nd. B. Riley raised their target price on Global Ship Lease from $33.00 to $38.00 in a research note on Thursday, March 3rd. Finally, StockNews.com initiated coverage on Global Ship Lease in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $31.25.

Global Ship Lease stock opened at $21.90 on Tuesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.59 and a quick ratio of 0.54. The stock has a market capitalization of $798.56 million, a price-to-earnings ratio of 4.83 and a beta of 1.67. Global Ship Lease has a 1-year low of $13.55 and a 1-year high of $30.02. The business has a fifty day moving average price of $26.66 and a 200-day moving average price of $24.62.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 4th. Stockholders of record on Tuesday, February 22nd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date was Friday, February 18th. Global Ship Lease’s dividend payout ratio (DPR) is presently 22.08%.

A number of hedge funds have recently bought and sold shares of the stock. Invesco Ltd. boosted its holdings in Global Ship Lease by 3.6% in the 3rd quarter. Invesco Ltd. now owns 15,109 shares of the shipping company’s stock worth $358,000 after buying an additional 532 shares during the last quarter. Navellier & Associates Inc. boosted its holdings in shares of Global Ship Lease by 6.3% during the 4th quarter. Navellier & Associates Inc. now owns 15,021 shares of the shipping company’s stock worth $344,000 after purchasing an additional 887 shares during the last quarter. Retirement Planning Co of New England Inc. purchased a new stake in shares of Global Ship Lease during the 4th quarter valued at approximately $31,000. Selective Wealth Management Inc. raised its position in Global Ship Lease by 566.7% in the first quarter. Selective Wealth Management Inc. now owns 2,000 shares of the shipping company’s stock valued at $57,000 after purchasing an additional 1,700 shares during the period. Finally, Citigroup Inc. increased its position in shares of Global Ship Lease by 146.6% during the fourth quarter. Citigroup Inc. now owns 3,016 shares of the shipping company’s stock worth $69,000 after acquiring an additional 1,793 shares during the period. Institutional investors own 44.70% of the company’s stock.

About Global Ship Lease (Get Rating)

Global Ship Lease, Inc owns and charters containerships of various sizes under fixed-rate charters to container shipping companies. As of March 10, 2022, it owned 65 mid-sized and smaller containerships with an aggregate capacity of 342,348 twenty-foot equivalent units. The company was founded in 2007 and is based in London, the United Kingdom.

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