Zacks Investment Research upgraded shares of Ship Finance International (NYSE:SFL) from a strong sell rating to a hold rating in a research report report published 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. “
A number of other brokerages have also recently issued reports on SFL. Goldman Sachs Group cut Ship Finance International from a neutral rating to a sell rating in a report on Wednesday, January 17th. Jefferies Group assumed coverage on Ship Finance International in a report on Monday, December 18th. They issued a hold rating and a $15.00 target price for the company. Finally, Morgan Stanley upped their target price on Ship Finance International from $13.50 to $14.50 and gave the stock an equal weight rating in a report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $15.50.
Ship Finance International (NYSE SFL) opened at $15.05 on Thursday. Ship Finance International has a fifty-two week low of $12.30 and a fifty-two week high of $15.98. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $1,530.00, a PE ratio of 15.20 and a beta of 1.37.
Ship Finance International (NYSE:SFL) last issued its earnings results on Wednesday, November 22nd. The shipping company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. Ship Finance International had a return on equity of 11.02% and a net margin of 28.66%. The business had revenue of $93.67 million during the quarter, compared to analysts’ expectations of $97.50 million. equities analysts forecast that Ship Finance International will post 1.22 earnings per share for the current year.
Hedge funds have recently modified their holdings of the company. Alliancebernstein L.P. increased its stake in shares of Ship Finance International by 14.6% in the second quarter. Alliancebernstein L.P. now owns 109,103 shares of the shipping company’s stock valued at $1,484,000 after buying an additional 13,900 shares during the period. Wells Fargo & Company MN increased its stake in shares of Ship Finance International by 9.1% in the second quarter. Wells Fargo & Company MN now owns 166,939 shares of the shipping company’s stock valued at $2,270,000 after buying an additional 13,952 shares during the period. Trexquant Investment LP acquired a new stake in shares of Ship Finance International in the third quarter valued at about $741,000. Fox Run Management L.L.C. acquired a new stake in shares of Ship Finance International in the third quarter valued at about $534,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of Ship Finance International by 16.9% in the second quarter. Goldman Sachs Group Inc. now owns 47,488 shares of the shipping company’s stock valued at $646,000 after buying an additional 6,863 shares during the period. 31.01% of the stock is owned by institutional investors.
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Ship Finance International Company Profile
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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