Zacks Investment Research lowered shares of Ship Finance International Limited (NYSE:SFL) from a buy rating to a hold rating in a report published on Saturday morning.
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. “
Separately, Clarkson Capital upgraded shares of Ship Finance International Limited from a neutral rating to a buy rating in a report on Tuesday, October 17th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Ship Finance International Limited has a consensus rating of Hold and an average target price of $16.00.
Ship Finance International Limited (NYSE:SFL) remained flat at $$14.95 during midday trading on Friday. The stock had a trading volume of 480,859 shares, compared to its average volume of 794,540. The stock has a market capitalization of $1,397.90, a P/E ratio of 10.91 and a beta of 1.40. Ship Finance International Limited has a 52 week low of $12.07 and a 52 week high of $16.10.
Ship Finance International Limited (NYSE:SFL) last posted its quarterly earnings results on Wednesday, August 30th. The shipping company reported $0.30 EPS for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.02. The firm had revenue of $94.22 million for the quarter, compared to analysts’ expectations of $95.70 million. Ship Finance International Limited had a net margin of 29.59% and a return on equity of 11.26%. sell-side analysts expect that Ship Finance International Limited will post 1.22 earnings per share for the current year.
A number of institutional investors have recently modified their holdings of the business. Northern Trust Corp grew its holdings in Ship Finance International Limited by 28.7% during the 2nd quarter. Northern Trust Corp now owns 2,917,756 shares of the shipping company’s stock worth $39,681,000 after acquiring an additional 650,211 shares in the last quarter. State Street Corp grew its holdings in Ship Finance International Limited by 5.2% during the 2nd quarter. State Street Corp now owns 1,246,160 shares of the shipping company’s stock worth $16,949,000 after acquiring an additional 61,801 shares in the last quarter. Global X MANAGEMENT CO LLC grew its holdings in Ship Finance International Limited by 5.5% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 659,971 shares of the shipping company’s stock worth $9,570,000 after acquiring an additional 34,469 shares in the last quarter. Global X Management Co. LLC grew its holdings in Ship Finance International Limited by 4.8% during the 2nd quarter. Global X Management Co. LLC now owns 625,502 shares of the shipping company’s stock worth $8,507,000 after acquiring an additional 28,613 shares in the last quarter. Finally, Gotham Asset Management LLC lifted its position in shares of Ship Finance International Limited by 86.2% during the second 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 last quarter. Institutional investors own 26.40% of the company’s stock.
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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