Ship Finance International (SFL) Downgraded by Zacks Investment Research to Sell

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

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. “

Other research analysts have also recently issued reports about the company. Nordea Equity Research upgraded Ship Finance International from a hold rating to a buy rating in a report on Thursday, September 6th. TheStreet cut Ship Finance International from a b rating to a c+ rating in a report on Thursday, August 23rd. Finally, ValuEngine cut Ship Finance International from a hold rating to a sell rating in a report on Thursday, September 13th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $16.13.

SFL traded up $0.04 during trading hours on Friday, reaching $13.18. The company’s stock had a trading volume of 1,049,646 shares, compared to its average volume of 786,460. Ship Finance International has a fifty-two week low of $13.03 and a fifty-two week high of $15.98. The stock has a market capitalization of $1.70 billion, a PE ratio of 11.08 and a beta of 1.21. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.49 and a current ratio of 0.50.

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

The company also recently announced a quarterly dividend, which was paid on Thursday, September 27th. Shareholders of record on Friday, September 14th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 10.62%. The ex-dividend date of this dividend was Thursday, September 13th. Ship Finance International’s payout ratio is 117.65%.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Fund Management S.A. purchased a new stake in Ship Finance International in the second quarter valued at approximately $774,000. Albert D Mason Inc. increased its position in shares of Ship Finance International by 18.9% during the second quarter. Albert D Mason Inc. now owns 74,155 shares of the shipping company’s stock worth $1,109,000 after acquiring an additional 11,785 shares during the period. Macquarie Group Ltd. increased its position in shares of Ship Finance International by 1,180.3% during the second quarter. Macquarie Group Ltd. now owns 26,400 shares of the shipping company’s stock worth $395,000 after acquiring an additional 24,338 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Ship Finance International by 26.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 407,709 shares of the shipping company’s stock worth $6,096,000 after acquiring an additional 85,143 shares during the period. Finally, BlueMountain Capital Management LLC increased its position in shares of Ship Finance International by 17,907.7% during the second quarter. BlueMountain Capital Management LLC now owns 34,935 shares of the shipping company’s stock worth $522,000 after acquiring an additional 34,741 shares during the period. 31.12% of the stock is currently owned by institutional investors.

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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