Ship Finance International Limited (NYSE:SFL) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Ship Finance International Limited (NYSE:SFL) from a hold rating to a sell rating in a research report released on Tuesday, August 8th.

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. “

A number of other analysts also recently issued reports on the company. BidaskClub raised Ship Finance International Limited from a sell rating to a hold rating in a research note on Friday, June 30th. ValuEngine downgraded Ship Finance International Limited from a buy rating to a hold rating in a research note on Friday, June 2nd. Finally, Jefferies Group LLC raised Ship Finance International Limited to a hold rating and set a $15.00 target price for the company in a research note on Monday, June 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Ship Finance International Limited has an average rating of Hold and a consensus target price of $15.67.

Shares of Ship Finance International Limited (NYSE:SFL) remained flat at $13.50 during midday trading on Tuesday. The company’s stock had a trading volume of 490,561 shares. The stock has a 50-day moving average of $13.48 and a 200 day moving average of $13.90. Ship Finance International Limited has a one year low of $12.07 and a one year high of $16.10. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 9.78 and a beta of 1.38.

Ship Finance International Limited (NYSE:SFL) last issued its earnings results on Tuesday, May 30th. The shipping company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. Ship Finance International Limited had a return on equity of 12.65% and a net margin of 33.62%. The business had revenue of $96.88 million during the quarter, compared to the consensus estimate of $102.70 million. On average, equities research analysts forecast that Ship Finance International Limited will post $1.06 earnings per share for the current year.

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Several hedge funds have recently modified their holdings of the company. Northern Trust Corp increased its stake in shares of Ship Finance International Limited by 28.7% in the second quarter. Northern Trust Corp now owns 2,917,756 shares of the shipping company’s stock worth $39,681,000 after buying an additional 650,211 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Ship Finance International Limited by 7.1% in the first quarter. Bank of New York Mellon Corp now owns 2,602,909 shares of the shipping company’s stock worth $38,263,000 after buying an additional 172,927 shares during the last quarter. State Street Corp increased its stake in shares of Ship Finance International Limited by 5.2% in the second quarter. State Street Corp now owns 1,246,160 shares of the shipping company’s stock worth $16,949,000 after buying an additional 61,801 shares during the last quarter. James Investment Research Inc. increased its stake in shares of Ship Finance International Limited by 10.4% in the first quarter. James Investment Research Inc. now owns 666,910 shares of the shipping company’s stock worth $9,804,000 after buying an additional 63,025 shares during the last quarter. Finally, Doheny Asset Management CA increased its stake in shares of Ship Finance International Limited by 2.1% in the first quarter. Doheny Asset Management CA now owns 626,609 shares of the shipping company’s stock worth $9,211,000 after buying an additional 13,000 shares during the last quarter. 26.33% of the stock is owned by hedge funds and other institutional investors.

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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