Brokerages Anticipate Ship Finance International Limited (SFL) Will Announce Quarterly Sales of $97.50 Million
Brokerages forecast that Ship Finance International Limited (NYSE:SFL) will report sales of $97.50 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Ship Finance International Limited’s earnings. The lowest sales estimate is $93.70 million and the highest is $101.30 million. Ship Finance International Limited reported sales of $93.53 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.2%. The firm is expected to issue its next quarterly earnings results on Tuesday, December 5th.
According to Zacks, analysts expect that Ship Finance International Limited will report full year sales of $97.50 million for the current year, with estimates ranging from $380.60 million to $397.13 million. For the next financial year, analysts expect that the business will report sales of $409.15 million per share, with estimates ranging from $399.30 million to $419.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Ship Finance International Limited.
Ship Finance International Limited (NYSE:SFL) last announced its quarterly earnings data on Wednesday, August 30th. The shipping company reported $0.30 earnings per share for the quarter, beating 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 firm had revenue of $94.22 million during the quarter, compared to the consensus estimate of $95.70 million.
Several research analysts have weighed in on the company. Zacks Investment Research downgraded Ship Finance International Limited from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Clarkson Capital upgraded Ship Finance International Limited from a “neutral” rating to a “buy” rating in a report on Tuesday, October 17th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $15.00.
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Ship Finance International Limited (NYSE SFL) opened at 14.90 on Wednesday. The company’s 50 day moving average price is $14.54 and its 200-day moving average price is $13.78. The company has a market cap of $1.39 billion, a P/E ratio of 12.30 and a beta of 1.39. Ship Finance International Limited has a one year low of $12.07 and a one year high of $16.10.
Several large investors have recently made changes to their positions in SFL. Raymond James Financial Services Advisors Inc. bought a new position in shares of Ship Finance International Limited in the second quarter valued at approximately $145,000. Stifel Financial Corp bought a new stake in Ship Finance International Limited during the first quarter worth approximately $160,000. Principal Financial Group Inc. bought a new stake in Ship Finance International Limited during the first quarter worth approximately $186,000. Geneva Advisors LLC boosted its holdings in Ship Finance International Limited by 3.2% during the second quarter. Geneva Advisors LLC now owns 12,735 shares of the shipping company’s stock worth $173,000 after buying an additional 400 shares in the last quarter. Finally, QS Investors LLC bought a new stake in Ship Finance International Limited during the second quarter worth approximately $174,000. Institutional investors own 26.40% of the company’s stock.
About Ship Finance International Limited
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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