Ship Finance International Ltd. (SFL) Lifted to “Hold” at Zacks Investment Research
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 equities analysts have also issued reports on SFL. Clarkson Capital reiterated a neutral rating on shares of Ship Finance International in a research note on Friday, June 17th. Jefferies Group set a $15.00 target price on Ship Finance International and gave the company a hold rating in a research note on Wednesday, July 27th. Finally, Seaport Global Securities initiated coverage on Ship Finance International in a research note on Monday, August 22nd. They issued a neutral rating and a $16.00 target price on the stock. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Ship Finance International presently has a consensus rating of Hold and an average price target of $17.00.
Shares of Ship Finance International (NYSE:SFL) opened at 14.52 on Wednesday. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 8.48 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 company has a 50-day moving average of $14.89 and a 200 day moving average of $14.85.
Ship Finance International (NYSE:SFL) last posted its earnings results on Wednesday, August 24th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by $0.09. Ship Finance International had a net margin of 41.55% and a return on equity of 17.86%. Analysts predict that Ship Finance International will post $2.00 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Monday, September 12th were paid a dividend of $0.45 per share. The ex-dividend date was Thursday, September 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 12.40%. Ship Finance International’s payout ratio is 90.45%.
Large investors have recently modified their holdings of the company. LSV Asset Management raised its stake in shares of Ship Finance International by 94.0% in the second quarter. LSV Asset Management now owns 2,327,643 shares of the company’s stock worth $34,309,000 after buying an additional 1,128,079 shares during the last quarter. Vanguard Group Inc. raised 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 worth $38,427,000 after buying an additional 847,349 shares during the last quarter. Cipher Capital LP raised 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 worth $6,119,000 after buying an additional 274,881 shares during the last quarter. James Investment Research Inc. acquired a new stake in shares of Ship Finance International during the second quarter worth $3,297,000. Finally, Allianz Asset Management AG raised 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 worth $13,198,000 after buying an additional 217,111 shares during the last quarter. Institutional investors and hedge funds 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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