Ship Finance International Ltd. (SFL) Stock Rating Lowered by Zacks Investment Research
Ship Finance International Ltd. (NYSE:SFL) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Thursday.
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. “
Several other brokerages have also recently commented on SFL. Clarkson Capital reiterated a “neutral” rating on shares of Ship Finance International in a research report on Friday, June 17th. Jefferies Group set a $15.00 price target on shares of Ship Finance International and gave the stock a “hold” rating in a research report on Wednesday, July 27th. Finally, Seaport Global Securities initiated coverage on shares of Ship Finance International in a research report on Monday, August 22nd. They issued a “neutral” rating and a $16.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $17.00.
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Ship Finance International (NYSE:SFL) opened at 14.45 on Thursday. The stock has a market cap of $1.35 billion, a P/E ratio of 8.44 and a beta of 1.28. Ship Finance International has a 12 month low of $9.83 and a 12 month high of $17.80. The firm’s 50-day moving average is $14.79 and its 200-day moving average is $14.87.
Ship Finance International (NYSE:SFL) last issued its quarterly earnings results on Wednesday, August 24th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.51 by $0.09. Ship Finance International had a return on equity of 17.86% and a net margin of 41.55%. On average, equities analysts forecast that Ship Finance International will post $2.00 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Monday, September 12th were issued a dividend of $0.45 per share. The ex-dividend date was Thursday, September 8th. This represents a $1.80 annualized dividend and a yield of 12.46%. Ship Finance International’s payout ratio is presently 90.45%.
Hedge funds have recently bought and sold shares of the company. LSV Asset Management boosted its position in Ship Finance International by 94.0% in the second quarter. LSV Asset Management now owns 2,327,643 shares of the company’s stock valued at $34,309,000 after buying an additional 1,128,079 shares during the period. Vanguard Group Inc. boosted its stake in shares of Ship Finance International by 48.2% in the second quarter. Vanguard Group Inc. now owns 2,607,038 shares of the company’s stock valued at $38,427,000 after buying an additional 847,349 shares during the last quarter. Cipher Capital LP boosted its stake in shares of Ship Finance International by 196.0% in the second quarter. Cipher Capital LP now owns 415,113 shares of the company’s stock valued at $6,119,000 after buying an additional 274,881 shares during the last quarter. James Investment Research Inc. purchased a new stake in shares of Ship Finance International during the second quarter valued at approximately $3,297,000. Finally, Allianz Asset Management AG boosted its stake in shares of Ship Finance International by 32.0% in the second quarter. Allianz Asset Management AG now owns 895,328 shares of the company’s stock valued at $13,198,000 after buying an additional 217,111 shares during the last quarter. Hedge funds and other institutional investors own 29.53% of the company’s stock.
About Ship Finance International
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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