Ship Finance International Limited Reaches New 12-Month High Following Strong Earnings (SFL)
Ship Finance International Limited (NYSE:SFL) shares hit a new 52-week high during mid-day trading on Thursday after the company announced better than expected quarterly earnings, American Banking News.com reports. The stock traded as high as $19.65 and last traded at $19.63, with a volume of 304,983 shares. The stock had previously closed at $19.55.
The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.04. The company had revenue of $157.00 million for the quarter.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Shareholders of record on Friday, September 12th will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 8.39%. The ex-dividend date is Wednesday, September 10th.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of Ship Finance International Limited from a “neutral” rating to an “outperform” rating in a research note on Monday, August 4th. They now have a $20.20 price target on the stock. Analysts at Jefferies Group raised their price target on shares of Ship Finance International Limited from $19.00 to $21.00 in a research note on Monday, July 28th. They now have a “hold” rating on the stock.
The stock has a 50-day moving average of $18.56 and a 200-day moving average of $18.0. The company has a market cap of $1.833 billion and a P/E ratio of 18.34.
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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