Ship Finance International (SFL) Downgraded by Goldman Sachs Group
Ship Finance International (NYSE:SFL) was downgraded by equities researchers at Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research note issued on Wednesday.
Several other brokerages have also issued reports on SFL. Jefferies Group initiated coverage on Ship Finance International in a research note on Monday, December 18th. They set a “hold” rating and a $15.00 price target for the company. Zacks Investment Research downgraded Ship Finance International from a “buy” rating to a “hold” rating in a report on Saturday, November 4th. Finally, Clarkson Capital upgraded Ship Finance International from a “neutral” rating to a “buy” rating in a report on Tuesday, October 17th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Ship Finance International presently has an average rating of “Hold” and a consensus price target of $16.00.
Shares of Ship Finance International (SFL) opened at $15.50 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $1,570.00, a P/E ratio of 15.66 and a beta of 1.41. Ship Finance International has a 52-week low of $12.30 and a 52-week high of $16.10.
Ship Finance International (NYSE:SFL) last issued its quarterly earnings results on Wednesday, November 22nd. The shipping company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.04. The company had revenue of $93.67 million during the quarter, compared to the consensus estimate of $97.50 million. Ship Finance International had a return on equity of 11.02% and a net margin of 28.66%. research analysts anticipate that Ship Finance International will post 1.24 EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in SFL. Northern Trust Corp lifted its holdings in shares of Ship Finance International by 28.7% during the 2nd quarter. Northern Trust Corp now owns 2,917,756 shares of the shipping company’s stock valued at $39,681,000 after buying an additional 650,211 shares during the period. State Street Corp lifted its holdings in shares of Ship Finance International 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 buying an additional 61,801 shares during the period. Global X MANAGEMENT CO LLC lifted its holdings in shares of Ship Finance International by 5.5% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 659,971 shares of the shipping company’s stock valued at $9,570,000 after buying an additional 34,469 shares during the period. Gotham Asset Management LLC lifted its holdings in shares of Ship Finance International by 86.2% during the 2nd quarter. Gotham Asset Management LLC now owns 573,465 shares of the shipping company’s stock valued at $7,799,000 after buying an additional 265,450 shares during the period. Finally, Numeric Investors LLC lifted its holdings in shares of Ship Finance International by 13.7% during the 2nd quarter. Numeric Investors LLC now owns 351,200 shares of the shipping company’s stock valued at $4,776,000 after buying an additional 42,400 shares during the period. 30.73% of the stock is currently owned by institutional investors and hedge funds.
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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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