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

Equities research analysts expect Global Ship Lease, Inc. (NYSE:GSL – Get Rating) to announce $147.26 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Global Ship Lease’s earnings. The lowest sales estimate is $143.69 million and the highest is $150.82 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 firm is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Global Ship Lease will report full year sales of $597.13 million for the current fiscal year, with estimates ranging from $592.77 million to $601.49 million. For the next financial year, analysts anticipate that the business will post sales of $625.16 million, with estimates ranging from $609.55 million to $640.76 million. Zacks Investment Research’s sales calculations are a mean 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 issued its quarterly earnings results on Monday, May 9th. The shipping company reported $1.91 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.91. The firm had revenue of $153.63 million for the quarter, compared to analyst estimates of $148.40 million. Global Ship Lease had a return on equity of 33.34% and a net margin of 45.10%. During the same period last year, the company earned $0.55 EPS.

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

Hedge funds have recently bought and sold shares of the business. Skandinaviska Enskilda Banken AB publ increased 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 purchasing an additional 140,000 shares during the last quarter. Equitable Holdings Inc. purchased a new stake in Global Ship Lease during the 4th quarter worth approximately $265,000. BlackRock Inc. increased its holdings in Global Ship Lease by 19.8% during the 3rd quarter. BlackRock Inc. now owns 15,224 shares of the shipping company’s stock worth $361,000 after purchasing an additional 2,512 shares during the last quarter. Lazard Asset Management LLC increased its holdings in Global Ship Lease by 327.4% during the 4th quarter. Lazard Asset Management LLC now owns 3,295 shares of the shipping company’s stock worth $75,000 after purchasing an additional 2,524 shares during the last quarter. Finally, Whitefort Capital Management LP purchased a new stake in Global Ship Lease during the 4th quarter worth approximately $22,068,000. Institutional investors own 44.90% of the company’s stock.

NYSE GSL opened at $22.95 on Tuesday. The firm has a market capitalization of $836.85 million, a P/E ratio of 3.63 and a beta of 1.73. Global Ship Lease has a 1-year low of $15.30 and a 1-year high of $30.02. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.65 and a quick ratio of 0.61. The business’s 50-day simple moving average is $23.69 and its 200-day simple moving average is $24.40.

The business also recently announced a quarterly dividend, which was paid on Thursday, June 2nd. Investors of record on Tuesday, May 24th were issued a dividend of $0.375 per share. This is an increase from Global Ship Lease’s previous quarterly dividend of $0.25. This represents a $1.50 annualized dividend and a dividend yield of 6.54%. The ex-dividend date was Monday, May 23rd. Global Ship Lease’s dividend payout ratio (DPR) is presently 23.70%.

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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