Ship Finance International Ltd. (NYSE:SFL) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Ship Finance is a major shipowning company. Including newbuildings, Ship Finance owns a fleet consisting of vessels, including crude oil tankers (VLCC and Suezmax), oil/bulk/ore vessels, container vessels, dry bulk carriers, jack-up drilling rigs and seismic vessels. The fleet is one of the largest in the world and most of the vessels are employed on medium- or long-term charters. “
Several other equities research analysts have also recently issued reports on SFL. Jefferies Group set a $15.00 target price on shares of Ship Finance International and gave the stock a “hold” rating in a research report on Wednesday, July 27th. Clarkson Capital reissued a “neutral” rating on shares of Ship Finance International in a research report on Friday, June 17th. Finally, Seaport Global Securities assumed coverage on shares of Ship Finance International in a research report on Monday, August 22nd. They issued a “neutral” rating and a $16.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Ship Finance International has a consensus rating of “Hold” and an average target price of $17.00.
Shares of Ship Finance International (NYSE:SFL) traded down 0.88% during midday trading on Wednesday, hitting $14.61. 1,025,999 shares of the company’s stock were exchanged. The stock has a market cap of $1.37 billion, a PE ratio of 8.53 and a beta of 1.28. The stock’s 50 day moving average is $14.98 and its 200-day moving average is $14.85. Ship Finance International has a 1-year low of $9.83 and a 1-year high of $17.80.
Ship Finance International (NYSE:SFL) last issued its quarterly earnings results on Wednesday, August 24th. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by $0.09. Ship Finance International had a return on equity of 17.86% and a net margin of 41.55%. Analysts predict that Ship Finance International will post $1.97 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Monday, September 12th were given a dividend of $0.45 per share. The ex-dividend date was Thursday, September 8th. This represents a $1.80 dividend on an annualized basis and a yield of 12.21%. Ship Finance International’s dividend payout ratio (DPR) is 90.45%.
A number of hedge funds and other institutional investors have recently made changes to their positions in SFL. BlackRock Inc. boosted its position in shares of Ship Finance International by 65.5% in the first quarter. BlackRock Inc. now owns 32,301 shares of the company’s stock worth $449,000 after buying an additional 12,783 shares during the period. TIAA CREF Investment Management LLC boosted its position in shares of Ship Finance International by 26.5% in the first quarter. TIAA CREF Investment Management LLC now owns 238,344 shares of the company’s stock worth $3,311,000 after buying an additional 49,876 shares during the period. Prudential Financial Inc. boosted its position in shares of Ship Finance International by 56.5% in the first quarter. Prudential Financial Inc. now owns 523,609 shares of the company’s stock worth $7,273,000 after buying an additional 189,100 shares during the period. American Century Companies Inc. boosted its position in shares of Ship Finance International by 13.7% in the second quarter. American Century Companies Inc. now owns 58,825 shares of the company’s stock worth $867,000 after buying an additional 7,092 shares during the period. Finally, Zebra Capital Management LLC boosted its position in shares of Ship Finance International by 36.5% in the first quarter. Zebra Capital Management LLC now owns 134,956 shares of the company’s stock worth $1,875,000 after buying an additional 36,108 shares during the period. 30.05% of the stock is currently owned by hedge funds and other institutional investors.
About Ship Finance International
Ship Finance International Limited is a holding, and international ship owning and chartering company. The Company is engaged in the ownership and operation of vessels and offshore related assets, and also involved in the charter, purchase and sale of assets. Its assets consist of approximately 20 oil tankers, over 20 dry bulk carriers, approximately 20 container vessels, including a newbuilding, two car carriers, two jack-up drilling rigs, two ultra-deepwater drilling units, five offshore supply vessels, two chemical tankers and two newbuilding oil product tankers.
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