Zacks: Brokerages Expect Global Ship Lease, Inc. (NYSE:GSL) Will Announce Earnings of $1.79 Per Share

Brokerages expect Global Ship Lease, Inc. (NYSE:GSLGet Rating) to report earnings per share (EPS) of $1.79 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Global Ship Lease’s earnings, with estimates ranging from $1.62 to $1.95. Global Ship Lease posted earnings per share of $0.66 during the same quarter last year, which suggests a positive year over year growth rate of 171.2%. The business is scheduled to announce 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 company will report earnings of $8.57 per share, with EPS estimates ranging from $7.77 to $9.37. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Global Ship Lease.

Global Ship Lease (NYSE:GSLGet Rating) last issued its quarterly earnings data on Monday, May 9th. The shipping company reported $1.91 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.91. Global Ship Lease had a return on equity of 33.34% and a net margin of 45.10%. The firm had revenue of $153.63 million during the quarter, compared to analyst estimates of $148.40 million. During the same quarter last year, the firm earned $0.55 EPS.

GSL has been the topic of several recent research reports. TheStreet downgraded Global Ship Lease from a “b” rating to a “c+” rating in a report on Monday, May 2nd. B. Riley raised their target price on Global Ship Lease from $33.00 to $38.00 in a research report on Thursday, March 3rd. StockNews.com began coverage on Global Ship Lease in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Zacks Investment Research cut Global Ship Lease from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $31.25.

Shares of NYSE GSL opened at $23.06 on Friday. The company has a market cap of $840.77 million, a price-to-earnings ratio of 3.64 and a beta of 1.73. Global Ship Lease has a 12-month low of $15.30 and a 12-month high of $30.02. The company has a current ratio of 0.65, a quick ratio of 0.61 and a debt-to-equity ratio of 1.08. The stock’s 50 day simple moving average is $23.69 and its 200 day simple moving average is $24.38.

The company also recently declared a quarterly dividend, which was paid on Thursday, June 2nd. Stockholders of record on Tuesday, May 24th were given a dividend of $0.375 per share. The ex-dividend date was Monday, May 23rd. This is a boost from Global Ship Lease’s previous quarterly dividend of $0.25. This represents a $1.50 annualized dividend and a dividend yield of 6.50%. Global Ship Lease’s dividend payout ratio (DPR) is 23.70%.

Several hedge funds have recently modified their holdings of GSL. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Global Ship Lease in the 1st quarter worth $27,000. Retirement Planning Co of New England Inc. acquired a new position in shares of Global Ship Lease in the 4th quarter worth $31,000. Selective Wealth Management Inc. grew its holdings in shares of Global Ship Lease by 566.7% in the 1st quarter. Selective Wealth Management Inc. now owns 2,000 shares of the shipping company’s stock worth $57,000 after acquiring an additional 1,700 shares during the last quarter. Citigroup Inc. boosted its position in shares of Global Ship Lease by 146.6% in the fourth quarter. Citigroup Inc. now owns 3,016 shares of the shipping company’s stock worth $69,000 after buying an additional 1,793 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of Global Ship Lease by 992.3% in the fourth quarter. Legal & General Group Plc now owns 3,244 shares of the shipping company’s stock worth $74,000 after buying an additional 2,947 shares during the period. Institutional investors own 44.90% 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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