B. Riley Cuts Earnings Estimates for Global Ship Lease

Global Ship Lease, Inc. (NYSE:GSL - Free Report) - Equities researchers at B. Riley dropped their FY2026 earnings estimates for Global Ship Lease in a note issued to investors on Monday, May 19th. B. Riley analyst L. Burke now anticipates that the shipping company will earn $9.67 per share for the year, down from their previous estimate of $10.49. The consensus estimate for Global Ship Lease's current full-year earnings is $9.74 per share.

Other research analysts also recently issued research reports about the stock. Jefferies Financial Group raised their price target on shares of Global Ship Lease from $28.00 to $30.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Clarkson Capital downgraded shares of Global Ship Lease from a "strong-buy" rating to a "hold" rating and set a $28.00 price target on the stock. in a research note on Thursday, May 22nd. Finally, Wall Street Zen raised shares of Global Ship Lease from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd.

Global Ship Lease Trading Up 1.7%

GSL stock traded up $0.42 during trading on Thursday, hitting $24.90. The company had a trading volume of 197,125 shares, compared to its average volume of 414,974. The firm has a market capitalization of $882.63 million, a P/E ratio of 2.75 and a beta of 1.10. Global Ship Lease has a 52-week low of $17.73 and a 52-week high of $30.32. The company has a 50 day simple moving average of $22.03 and a 200-day simple moving average of $22.15. The company has a quick ratio of 1.58, a current ratio of 1.64 and a debt-to-equity ratio of 0.38.

Global Ship Lease (NYSE:GSL - Get Free Report) last posted its quarterly earnings results on Monday, May 19th. The shipping company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.27 by $0.38. The company had revenue of $190.98 million for the quarter, compared to the consensus estimate of $171.73 million. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. During the same quarter last year, the firm posted $2.53 EPS.

Global Ship Lease Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Friday, May 23rd will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 8.43%. This is a boost from Global Ship Lease's previous quarterly dividend of $0.45. The ex-dividend date is Friday, May 23rd. Global Ship Lease's dividend payout ratio is presently 19.83%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its holdings in Global Ship Lease by 137.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 42,098 shares of the shipping company's stock worth $962,000 after acquiring an additional 24,333 shares in the last quarter. PharVision Advisers LLC bought a new position in Global Ship Lease during the 1st quarter worth about $591,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Global Ship Lease during the 1st quarter worth about $13,304,000. Quarry LP grew its holdings in Global Ship Lease by 321.6% during the 1st quarter. Quarry LP now owns 8,222 shares of the shipping company's stock worth $188,000 after acquiring an additional 6,272 shares in the last quarter. Finally, Vident Advisory LLC grew its holdings in Global Ship Lease by 3.9% during the 1st quarter. Vident Advisory LLC now owns 44,162 shares of the shipping company's stock worth $1,009,000 after acquiring an additional 1,640 shares in the last quarter. 50.08% of the stock is currently owned by institutional investors.

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.