Ship Finance International’s Equal Weight Rating Reaffirmed at Morgan Stanley (SFL)
Ship Finance International (NYSE:SFL)‘s stock had its “equal weight” rating reiterated by research analysts at Morgan Stanley in a report released on Wednesday. They currently have a $19.00 target price on the stock, up from their previous target price of $18.00. Morgan Stanley’s price objective points to a potential upside of 1.77% from the company’s current price.
The analysts wrote, “1Q14 marginally better than expected. SFL reported operating EPS of $0.33 vs our $0.29 estimate and $0.32 of consensus. Group fix revenue, including vessels under capital leases, came in at $148m, 5% above our estimates with the tanker segment outperforming our forecast. Group EBITDA came in at $114m, 7% above our estimate, while an additional $12m was earned from the cash sweep of the FRO tankers. SFL raised its quarterly dividend by $0.01/sh to $0.41/sh, offering an 8.8% yield.”
Shares of Ship Finance International (NYSE:SFL) traded down 0.37% during mid-day trading on Wednesday, hitting $18.6006. 43,294 shares of the company’s stock traded hands. Ship Finance International has a 52-week low of $14.12 and a 52-week high of $19.35. The stock’s 50-day moving average is $17.56 and its 200-day moving average is $17.16. The company has a market cap of $1.735 billion and a P/E ratio of 18.90.
Ship Finance International (NYSE:SFL) last announced its earnings results on Tuesday, May 27th. The company reported $0.50 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.32 by $0.18. The company had revenue of $82.70 million for the quarter, compared to the consensus estimate of $80.36 million. On average, analysts predict that Ship Finance International will post $1.30 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group raised their price target on shares of Ship Finance International to $19.00 in a research note on Monday, April 21st. They now have a “hold” rating on the stock. Analysts at Zacks downgraded shares of Ship Finance International from an “outperform” rating to a “neutral” rating in a research note on Monday, March 10th. They now have a $20.20 price target on the stock.
Ship Finance International Limited (NYSE:SFL) is engaged primarily in the ownership and operation of vessels and offshore related assets, and also involved in the charter, purchase and sale of assets.
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