B. Riley Lifts Earnings Estimates for Global Ship Lease

Global Ship Lease, Inc. (NYSE:GSL) – B. Riley increased their FY2024 earnings per share estimates for Global Ship Lease in a research report issued to clients and investors on Tuesday, November 12th. B. Riley analyst L. Burke now anticipates that the shipping company will post earnings of $9.70 per share for the year, up from their previous estimate of $9.58. The consensus estimate for Global Ship Lease’s current full-year earnings is $9.85 per share. B. Riley also issued estimates for Global Ship Lease’s Q4 2024 earnings at $2.25 EPS.

GSL has been the topic of several other research reports. Clarkson Capital cut Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 price target on the stock. in a report on Thursday. StockNews.com lowered shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a report on Friday, October 25th. Finally, Jefferies Financial Group restated a “buy” rating and set a $29.00 price target on shares of Global Ship Lease in a research report on Monday.

Global Ship Lease Stock Down 2.5 %

GSL opened at $23.82 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.42 and a quick ratio of 1.36. Global Ship Lease has a one year low of $17.47 and a one year high of $30.32. The firm has a market capitalization of $878.01 million, a P/E ratio of 2.66 and a beta of 1.62. The company has a fifty day moving average price of $24.54 and a 200-day moving average price of $25.94.

Global Ship Lease (NYSE:GSL) last issued its earnings results on Monday, November 11th. The shipping company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.02. Global Ship Lease had a net margin of 46.38% and a return on equity of 28.59%. The business had revenue of $174.06 million for the quarter, compared to analysts’ expectations of $175.83 million. During the same quarter in the previous year, the firm posted $2.33 EPS.

Global Ship Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Friday, November 22nd will be issued a $0.45 dividend. The ex-dividend date is Friday, November 22nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.56%. Global Ship Lease’s payout ratio is 16.61%.

Hedge Funds Weigh In On Global Ship Lease

Several institutional investors and hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC boosted its position in Global Ship Lease by 10.4% during the first quarter. Janney Montgomery Scott LLC now owns 28,751 shares of the shipping company’s stock valued at $584,000 after buying an additional 2,703 shares during the period. Donald Smith & CO. Inc. boosted its holdings in Global Ship Lease by 62.0% during the 1st quarter. Donald Smith & CO. Inc. now owns 2,533,701 shares of the shipping company’s stock valued at $51,434,000 after acquiring an additional 969,536 shares during the period. MQS Management LLC bought a new position in Global Ship Lease during the 1st quarter worth approximately $253,000. Tidal Investments LLC increased its stake in Global Ship Lease by 14.8% in the 1st quarter. Tidal Investments LLC now owns 15,832 shares of the shipping company’s stock worth $321,000 after purchasing an additional 2,038 shares during the period. Finally, Whitefort Capital Management LP lifted its position in Global Ship Lease by 4.2% in the first quarter. Whitefort Capital Management LP now owns 1,977,224 shares of the shipping company’s stock valued at $40,138,000 after purchasing an additional 79,743 shares during the last quarter. Institutional investors own 50.08% of the company’s stock.

About Global Ship Lease

Global Ship Lease, Inc, together with its subsidiaries, engages in owning and chartering of containerships under fixed-rate charters to container shipping companies worldwide. As of March 11, 2024, it owned 68 mid-sized and smaller containerships, ranging from 2,207 to 11,040 twenty-foot equivalent unit (TEU), with an aggregate capacity of 375,406 TEU.