Ship Finance International (NYSE:SFL) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Friday. The firm presently has a $14.00 price objective on the shipping company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 9.80% from the stock’s previous close.
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. “
SFL has been the topic of several other reports. ValuEngine lowered shares of Ship Finance International from a “hold” rating to a “sell” rating in a report on Thursday, September 13th. Nordea Equity Research raised shares of Ship Finance International from a “hold” rating to a “buy” rating in a report on Thursday, September 6th. Finally, TheStreet lowered shares of Ship Finance International from a “b” rating to a “c+” rating in a report on Thursday, August 23rd. Two research analysts have rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $15.38.
Ship Finance International stock traded up $0.07 during midday trading on Friday, reaching $12.75. The stock had a trading volume of 5,593 shares, compared to its average volume of 870,870. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.50 and a quick ratio of 0.49. Ship Finance International has a 52-week low of $11.90 and a 52-week high of $15.98. The firm has a market capitalization of $1.53 billion, a P/E ratio of 10.71 and a beta of 1.21.
Ship Finance International (NYSE:SFL) last issued its earnings results on Wednesday, August 22nd. The shipping company reported $0.36 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.10. The business had revenue of $96.80 million for the quarter, compared to analyst estimates of $101.65 million. Ship Finance International had a net margin of 23.55% and a return on equity of 9.40%. During the same period last year, the company posted $0.35 earnings per share. Research analysts anticipate that Ship Finance International will post 1.11 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. boosted its stake in Ship Finance International by 26.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 407,709 shares of the shipping company’s stock valued at $6,096,000 after acquiring an additional 85,143 shares in the last quarter. Macquarie Group Ltd. boosted its stake in Ship Finance International by 1,180.3% in the second quarter. Macquarie Group Ltd. now owns 26,400 shares of the shipping company’s stock valued at $395,000 after acquiring an additional 24,338 shares in the last quarter. Capital Fund Management S.A. acquired a new stake in Ship Finance International in the second quarter valued at approximately $774,000. Albert D Mason Inc. boosted its stake in Ship Finance International by 18.9% in the second quarter. Albert D Mason Inc. now owns 74,155 shares of the shipping company’s stock valued at $1,109,000 after acquiring an additional 11,785 shares in the last quarter. Finally, BlueMountain Capital Management LLC boosted its stake in Ship Finance International by 17,907.7% in the second quarter. BlueMountain Capital Management LLC now owns 34,935 shares of the shipping company’s stock valued at $522,000 after acquiring an additional 34,741 shares in the last quarter. Institutional investors own 31.10% of the company’s stock.
About Ship Finance International
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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