Ship Finance International Limited (NYSE:SFL) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Friday.

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. “

Other research analysts also recently issued reports about the company. Jefferies Group LLC upgraded Ship Finance International Limited to a “hold” rating and set a $15.00 price target for the company in a research note on Monday, June 5th. ValuEngine downgraded Ship Finance International Limited from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, BidaskClub upgraded Ship Finance International Limited from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $15.50.

Shares of Ship Finance International Limited (SFL) traded down 2.07% during midday trading on Friday, reaching $14.20. 1,914,344 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $13.58 and its 200 day moving average price is $13.75. Ship Finance International Limited has a one year low of $12.07 and a one year high of $16.10. The firm has a market capitalization of $1.33 billion, a PE ratio of 10.28 and a beta of 1.36.

Ship Finance International Limited (NYSE:SFL) last posted its quarterly earnings results on Wednesday, August 30th. The shipping company reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.02. Ship Finance International Limited had a return on equity of 11.26% and a net margin of 29.59%. The business had revenue of $94.22 million during the quarter, compared to the consensus estimate of $95.70 million. On average, equities research analysts expect that Ship Finance International Limited will post $1.11 earnings per share for the current fiscal year.

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A number of hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC boosted its stake in Ship Finance International Limited by 0.4% in the 2nd quarter. Advisory Services Network LLC now owns 80,160 shares of the shipping company’s stock worth $1,090,000 after purchasing an additional 288 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in shares of Ship Finance International Limited during the 2nd quarter valued at approximately $145,000. The Manufacturers Life Insurance Company boosted its position in shares of Ship Finance International Limited by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 45,661 shares of the shipping company’s stock valued at $621,000 after acquiring an additional 196 shares during the last quarter. BlueCrest Capital Management Ltd boosted its position in shares of Ship Finance International Limited by 12.2% during the 2nd quarter. BlueCrest Capital Management Ltd now owns 29,262 shares of the shipping company’s stock valued at $398,000 after acquiring an additional 3,173 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Ship Finance International Limited by 5.2% during the 2nd quarter. State Street Corp now owns 1,246,160 shares of the shipping company’s stock valued at $16,949,000 after acquiring an additional 61,801 shares during the last quarter. Institutional investors and hedge funds own 24.33% of the company’s stock.

Ship Finance International Limited 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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