Q2 2024 Earnings Estimate for Global Ship Lease, Inc. Issued By B. Riley (NYSE:GSL)

Global Ship Lease, Inc. (NYSE:GSL - Free Report) - B. Riley reduced their Q2 2024 earnings estimates for shares of Global Ship Lease in a research report issued to clients and investors on Friday, May 17th. B. Riley analyst L. Burke now forecasts that the shipping company will earn $2.22 per share for the quarter, down from their prior estimate of $2.41. The consensus estimate for Global Ship Lease's current full-year earnings is $9.61 per share. B. Riley also issued estimates for Global Ship Lease's Q3 2024 earnings at $2.27 EPS, Q4 2024 earnings at $2.34 EPS, FY2024 earnings at $9.36 EPS and FY2025 earnings at $9.73 EPS.

Several other brokerages also recently commented on GSL. StockNews.com downgraded shares of Global Ship Lease from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 13th. Jefferies Financial Group raised their price objective on shares of Global Ship Lease from $26.00 to $29.00 and gave the stock a "buy" rating in a research report on Thursday.

Global Ship Lease Trading Up 1.2 %

Shares of GSL stock traded up $0.32 during trading hours on Monday, hitting $27.11. 1,279,543 shares of the company were exchanged, compared to its average volume of 683,481. The firm has a market cap of $953.82 million, a P/E ratio of 3.05 and a beta of 1.46. Global Ship Lease has a fifty-two week low of $16.80 and a fifty-two week high of $27.22. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.00 and a current ratio of 1.05. The company has a 50 day simple moving average of $21.79 and a two-hundred day simple moving average of $20.34.

Global Ship Lease (NYSE:GSL - Get Free Report) last announced its quarterly earnings data on Monday, March 4th. The shipping company reported $2.49 EPS for the quarter, topping the consensus estimate of $2.34 by $0.15. The company had revenue of $178.89 million during the quarter, compared to the consensus estimate of $171.54 million. Global Ship Lease had a net margin of 46.30% and a return on equity of 30.26%. During the same quarter last year, the firm posted $2.14 EPS.

Institutional Trading of Global Ship Lease

Several hedge funds have recently bought and sold shares of GSL. Whittier Trust Co. purchased a new position in shares of Global Ship Lease in the 4th quarter worth about $40,000. Signaturefd LLC boosted its holdings in shares of Global Ship Lease by 87.6% in the 4th quarter. Signaturefd LLC now owns 2,024 shares of the shipping company's stock worth $40,000 after buying an additional 945 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Global Ship Lease by 150.2% in the 4th quarter. Quadrant Capital Group LLC now owns 7,186 shares of the shipping company's stock worth $142,000 after buying an additional 4,314 shares during the last quarter. Clear Street Markets LLC purchased a new position in shares of Global Ship Lease in the 4th quarter worth about $172,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of Global Ship Lease in the 4th quarter worth about $201,000. Institutional investors and hedge funds own 50.08% of the company's stock.

Global Ship Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 24th will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 5.53%. The ex-dividend date is Thursday, May 23rd. Global Ship Lease's payout ratio is currently 16.95%.

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.