Brokerages Expect Global Ship Lease, Inc. (NYSE:GSL) to Post $1.79 Earnings Per Share

Brokerages predict that Global Ship Lease, Inc. (NYSE:GSL – Get Rating) will report earnings per share (EPS) of $1.79 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Global Ship Lease’s earnings, with estimates ranging from $1.62 to $1.95. Global Ship Lease reported earnings of $0.66 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 171.2%. The business is scheduled to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Global Ship Lease will report full year earnings of $7.45 per share for the current year, with EPS estimates ranging from $7.07 to $7.83. For the next year, analysts forecast that the firm will report earnings of $8.57 per share, with EPS estimates ranging from $7.77 to $9.37. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that that provide coverage for Global Ship Lease.

Global Ship Lease (NYSE:GSL – Get Rating) last announced its quarterly earnings results on Monday, May 9th. The shipping company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.01. Global Ship Lease had a net margin of 45.10% and a return on equity of 33.34%. During the same period in the previous year, the firm earned $0.55 EPS.

GSL has been the topic of a number of analyst reports. Zacks Investment Research cut shares of Global Ship Lease from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 4th. B. Riley boosted their price objective on shares of Global Ship Lease from $33.00 to $38.00 in a research report on Thursday, March 3rd. TheStreet cut shares of Global Ship Lease from a “b” rating to a “c+” rating in a research report on Monday, May 2nd. Finally, StockNews.com initiated coverage on shares of Global Ship Lease in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Global Ship Lease currently has a consensus rating of “Buy” and a consensus price target of $31.25.

Several institutional investors and hedge funds have recently modified their holdings of GSL. B. Riley Financial Inc. boosted its stake in shares of Global Ship Lease by 85.1% during the third quarter. B. Riley Financial Inc. now owns 2,586,542 shares of the shipping company’s stock valued at $61,327,000 after purchasing an additional 1,189,286 shares during the period. Whitefort Capital Management LP purchased a new stake in Global Ship Lease in the fourth quarter worth about $22,068,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Global Ship Lease in the first quarter worth about $22,416,000. Morgan Stanley lifted its stake in Global Ship Lease by 261.5% in the third quarter. Morgan Stanley now owns 830,629 shares of the shipping company’s stock worth $19,694,000 after acquiring an additional 600,857 shares during the period. Finally, Gratia Capital LLC lifted its stake in Global Ship Lease by 235.8% in the fourth quarter. Gratia Capital LLC now owns 746,325 shares of the shipping company’s stock worth $17,098,000 after acquiring an additional 524,083 shares during the period. 44.90% of the stock is owned by hedge funds and other institutional investors.

GSL stock opened at $21.67 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 1.08. Global Ship Lease has a twelve month low of $14.84 and a twelve month high of $30.02. The stock has a market capitalization of $790.09 million, a price-to-earnings ratio of 3.42 and a beta of 1.73. The firm’s fifty day simple moving average is $25.55 and its two-hundred day simple moving average is $24.60.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 2nd. Stockholders of record on Tuesday, May 24th will be paid a dividend of $0.375 per share. This is a positive change from Global Ship Lease’s previous quarterly dividend of $0.25. This represents a $1.50 dividend on an annualized basis and a dividend yield of 6.92%. The ex-dividend date of this dividend is Monday, May 23rd. Global Ship Lease’s payout ratio is currently 15.80%.

Global Ship Lease Company Profile (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.

See Also