SFL (NYSE:SFL) Raised to Buy at Wall Street Zen

SFL (NYSE:SFL) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Sunday.

Several other research firms also recently issued reports on SFL. BTIG Research upped their price objective on shares of SFL from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Weiss Ratings raised shares of SFL from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 15th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $14.00.

SFL Trading Up 0.3%

Shares of NYSE:SFL opened at $11.96 on Friday. The firm has a fifty day moving average of $11.25 and a two-hundred day moving average of $10.64. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 1.84. SFL has a 12-month low of $6.73 and a 12-month high of $12.94. The firm has a market capitalization of $1.73 billion, a P/E ratio of 49.82 and a beta of 0.44.

SFL (NYSE:SFL) last announced its quarterly earnings data on Tuesday, May 12th. The shipping company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.13. SFL had a return on equity of 0.26% and a net margin of 4.37%.The business had revenue of $174.48 million during the quarter, compared to analyst estimates of $170.77 million. During the same period last year, the company earned ($0.24) earnings per share. SFL’s quarterly revenue was down 6.8% compared to the same quarter last year.

Hedge Funds Weigh In On SFL

Hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. boosted its stake in SFL by 4.8% in the 4th quarter. Russell Investments Group Ltd. now owns 29,778 shares of the shipping company’s stock valued at $233,000 after buying an additional 1,353 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of SFL by 30.5% during the fourth quarter. Signaturefd LLC now owns 6,008 shares of the shipping company’s stock valued at $47,000 after acquiring an additional 1,405 shares during the period. ProShare Advisors LLC boosted its stake in shares of SFL by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 22,171 shares of the shipping company’s stock valued at $173,000 after purchasing an additional 1,424 shares in the last quarter. Brighton Jones LLC boosted its stake in shares of SFL by 8.2% in the 4th quarter. Brighton Jones LLC now owns 19,395 shares of the shipping company’s stock valued at $198,000 after purchasing an additional 1,474 shares in the last quarter. Finally, NFSG Corp grew its holdings in shares of SFL by 50.0% in the 1st quarter. NFSG Corp now owns 4,500 shares of the shipping company’s stock worth $49,000 after purchasing an additional 1,500 shares during the last quarter. 28.59% of the stock is owned by institutional investors and hedge funds.

About SFL

Ship Finance International Limited (NYSE: SFL) is an independent owner of modern, large-size ocean-going vessels that provides finance and leasing services to the global shipping industry. The company’s fleet encompasses a diversified mix of crude oil tankers, product and chemical tankers, liquefied natural gas (LNG) carriers, dry bulk carriers, container vessels and floating production storage and offloading (FPSO) units. By structuring long-term charter agreements and bareboat leases with major oil companies, commodity traders and offshore operators, Ship Finance International seeks to deliver stable cash flows and risk-adjusted returns for its shareholders.

In its core business, Ship Finance International acquires or finances vessels through forward sales agreements and then charters them out under fixed-rate contracts, typically ranging from five to 20 years in duration.