Zacks Investment Research downgraded shares of Ship Finance International Ltd. (NYSE:SFL) from a hold rating to a strong sell rating in a research report report published on Thursday.
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 research reports about the company. Jefferies Group set a $15.00 price objective on Ship Finance International and gave the stock a hold rating in a report on Wednesday, July 27th. Clarkson Capital reaffirmed a neutral rating on shares of Ship Finance International in a report on Friday, June 17th. Finally, Seaport Global Securities assumed coverage on Ship Finance International in a report on Monday, August 22nd. They set a neutral rating and a $16.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $17.00.
Shares of Ship Finance International (NYSE:SFL) opened at 13.90 on Thursday. The firm has a market cap of $1.30 billion, a PE ratio of 8.12 and a beta of 1.28. The stock has a 50 day moving average price of $14.69 and a 200 day moving average price of $14.89. Ship Finance International has a 12 month low of $9.83 and a 12 month high of $17.80.
Ship Finance International (NYSE:SFL) last announced its earnings results on Wednesday, August 24th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.51 by $0.09. Ship Finance International had a return on equity of 17.86% and a net margin of 41.55%. On average, equities research analysts expect that Ship Finance International will post $2.00 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Monday, September 12th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 12.95%. The ex-dividend date of this dividend was Thursday, September 8th. Ship Finance International’s payout ratio is 90.45%.
Several hedge funds have recently modified their holdings of SFL. MSI Financial Services Inc boosted its stake in Ship Finance International by 13.0% in the third quarter. MSI Financial Services Inc now owns 13,953 shares of the company’s stock worth $205,000 after buying an additional 1,604 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Ship Finance International by 2,272.7% in the third quarter. Nisa Investment Advisors LLC now owns 26,100 shares of the company’s stock worth $384,000 after buying an additional 25,000 shares in the last quarter. Raymond James Trust N.A. boosted its stake in Ship Finance International by 23.1% in the third quarter. Raymond James Trust N.A. now owns 16,000 shares of the company’s stock worth $236,000 after buying an additional 3,000 shares in the last quarter. Advisory Services Network LLC boosted its stake in Ship Finance International by 301.4% in the third quarter. Advisory Services Network LLC now owns 75,599 shares of the company’s stock worth $1,114,000 after buying an additional 56,766 shares in the last quarter. Finally, Stifel Financial Corp purchased a new stake in Ship Finance International during the second quarter worth approximately $362,000. Institutional investors own 29.60% of the company’s stock.
Ship Finance International 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.