Ship Finance International (SFL) Raised to “Hold” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Ship Finance International (NYSE:SFL) from a sell rating to a hold rating in a research report released on Thursday morning.

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 brokerages have also recently weighed in on SFL. Seaport Global Securities upgraded shares of Ship Finance International from a neutral rating to a buy rating and set a $18.00 price target on the stock in a research report on Friday, June 1st. Nordea Equity Research upgraded shares of Ship Finance International from a hold rating to a buy rating in a research report on Thursday, September 6th. Finally, TheStreet cut shares of Ship Finance International from a b rating to a c+ rating in a research report on Thursday, August 23rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $16.13.

Ship Finance International stock opened at $13.80 on Thursday. The company has a market cap of $1.73 billion, a PE ratio of 12.82 and a beta of 1.20. The company has a current ratio of 0.50, a quick ratio of 0.66 and a debt-to-equity ratio of 0.95. Ship Finance International has a 1 year low of $13.55 and a 1 year high of $15.98.

Ship Finance International (NYSE:SFL) last released its quarterly earnings data on Wednesday, August 22nd. The shipping company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.10. Ship Finance International had a net margin of 23.55% and a return on equity of 9.40%. The firm had revenue of $96.80 million for the quarter, compared to analysts’ expectations of $101.65 million. During the same quarter last year, the business posted $0.35 earnings per share. analysts anticipate that Ship Finance International will post 1.11 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 27th. Investors of record on Friday, September 14th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 10.14%. The ex-dividend date is Thursday, September 13th. Ship Finance International’s dividend payout ratio is presently 117.65%.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its stake in Ship Finance International by 2.0% during the second quarter. Bank of New York Mellon Corp now owns 2,990,056 shares of the shipping company’s stock worth $44,702,000 after buying an additional 58,348 shares during the period. Advisors Asset Management Inc. boosted its stake in Ship Finance International by 2.3% during the second quarter. Advisors Asset Management Inc. now owns 181,421 shares of the shipping company’s stock worth $2,712,000 after buying an additional 4,053 shares during the period. Trilogy Capital Inc. purchased a new position in Ship Finance International during the second quarter worth $219,000. Bramshill Investments LLC purchased a new position in Ship Finance International during the second quarter worth $894,000. Finally, MetLife Investment Advisors LLC boosted its stake in Ship Finance International by 35.6% during the second quarter. MetLife Investment Advisors LLC now owns 38,547 shares of the shipping company’s stock worth $576,000 after buying an additional 10,119 shares during the period. Institutional investors own 31.09% of the company’s stock.

Ship Finance International Company Profile

Ship Finance International Limited owns and operates vessels and offshore related assets primarily in Bermuda, Cyprus, Malta, Liberia, Norway, the United Kingdom, and the Marshall Islands. It is also involved in the charter, purchase, and sale of assets. In addition, the company operates in various sectors of the shipping and offshore industry, including oil transportation, dry bulk shipments, chemical transportation, oil product transportation, container transportation, car transportation, drilling rigs, and offshore supply vessels.

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