Zacks: Analysts Anticipate Global Ship Lease, Inc. (NYSE:GSL) Will Post Quarterly Sales of $147.26 Million

Wall Street brokerages expect that Global Ship Lease, Inc. (NYSE:GSL – Get Rating) will report sales of $147.26 million for the current quarter, Zacks reports. Two analysts have made estimates for Global Ship Lease’s earnings, with the highest sales estimate coming in at $150.82 million and the lowest estimate coming in at $143.69 million. Global Ship Lease reported sales of $82.87 million in the same quarter last year, which would suggest a positive year over year growth rate of 77.7%. The company is expected to report its next earnings results on Monday, January 1st.

On average, analysts expect that Global Ship Lease will report full year sales of $597.13 million for the current year, with estimates ranging from $592.77 million to $601.49 million. For the next financial year, analysts forecast that the company will report sales of $625.16 million, with estimates ranging from $609.55 million to $640.76 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Global Ship Lease.

Global Ship Lease (NYSE:GSL – Get Rating) last announced its earnings results on Monday, May 9th. The shipping company reported $1.91 earnings per share for the quarter, beating 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 prior year, the company earned $0.55 EPS.

Several equities research analysts have recently weighed in on GSL shares. B. Riley increased their target price on shares of Global Ship Lease from $33.00 to $38.00 in a research note on Thursday, March 3rd. Zacks Investment Research downgraded shares of Global Ship Lease from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 4th. StockNews.com assumed coverage on shares of Global Ship Lease in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, TheStreet downgraded shares of Global Ship Lease from a “b” rating to a “c+” rating in a research note on Monday, May 2nd. Two equities research 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, the company currently has an average rating of “Buy” and an average price target of $31.25.

A number of institutional investors have recently modified their holdings of the business. Whitefort Capital Management LP bought a new position in Global Ship Lease during the 4th quarter worth about $22,068,000. Morgan Stanley grew its holdings in Global Ship Lease by 261.5% during the 3rd 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 in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Global Ship Lease during the 1st quarter worth about $22,416,000. Gratia Capital LLC grew its holdings in Global Ship Lease by 235.8% during the 4th 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 in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in Global Ship Lease by 26.6% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 666,394 shares of the shipping company’s stock worth $14,987,000 after acquiring an additional 140,000 shares in the last quarter. Institutional investors own 44.90% of the company’s stock.

Shares of GSL opened at $22.51 on Tuesday. Global Ship Lease has a twelve month low of $15.25 and a twelve month high of $30.02. The company has a market cap of $820.80 million, a P/E ratio of 3.56 and a beta of 1.73. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 1.08. The company’s fifty day simple moving average is $25.45 and its 200-day simple moving average is $24.61.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 2nd. Investors of record on Tuesday, May 24th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 6.66%. The ex-dividend date of this dividend is Monday, May 23rd. This is an increase from Global Ship Lease’s previous quarterly dividend of $0.25. Global Ship Lease’s dividend payout ratio (DPR) is currently 15.80%.

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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