B. Riley Expects Reduced Earnings for Global Ship Lease

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

Several other analysts also recently issued reports on GSL. Clarkson Capital downgraded Global Ship Lease from a "buy" rating to a "neutral" rating and set a $28.00 price objective on the stock. in a report on Thursday. Jefferies Financial Group lifted their target price on shares of Global Ship Lease from $28.00 to $30.00 and gave the stock a "buy" rating in a research report on Monday. Finally, StockNews.com upgraded shares of Global Ship Lease from a "hold" rating to a "buy" rating in a research report on Thursday.

Global Ship Lease Trading Up 0.0%

Shares of NYSE GSL opened at $25.67 on Thursday. 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 has a 12 month low of $17.73 and a 12 month high of $30.32. The company has a market cap of $909.89 million, a price-to-earnings ratio of 2.84 and a beta of 1.10. The business has a fifty day simple moving average of $21.95 and a 200-day simple moving average of $22.18.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GSL. Donald Smith & CO. Inc. lifted its stake in Global Ship Lease by 2.6% in the 1st quarter. Donald Smith & CO. Inc. now owns 3,220,085 shares of the shipping company's stock worth $73,579,000 after acquiring an additional 80,615 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Global Ship Lease by 34.9% in the 4th quarter. Renaissance Technologies LLC now owns 629,750 shares of the shipping company's stock valued at $13,747,000 after purchasing an additional 162,900 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Global Ship Lease in the 1st quarter valued at about $13,304,000. Harbor Capital Advisors Inc. lifted its position in shares of Global Ship Lease by 1.3% in the first quarter. Harbor Capital Advisors Inc. now owns 526,769 shares of the shipping company's stock worth $12,037,000 after purchasing an additional 6,856 shares in the last quarter. Finally, Foundry Partners LLC boosted its holdings in shares of Global Ship Lease by 1.5% during the first quarter. Foundry Partners LLC now owns 511,215 shares of the shipping company's stock worth $11,681,000 after purchasing an additional 7,470 shares during the period. 50.08% of the stock is owned by institutional investors and hedge funds.

Global Ship Lease Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.525 per share. This is an increase from Global Ship Lease's previous quarterly dividend of $0.45. The ex-dividend date is Friday, May 23rd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 8.18%. Global Ship Lease's payout ratio is currently 19.83%.

Global Ship Lease Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.