Zacks Investment Research Upgrades Ship Finance International Limited (SFL) to Hold

English

Ship Finance International Limited (NYSE:SFL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors.

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 brokerages also recently weighed in on SFL. ValuEngine downgraded shares of Ship Finance International Limited from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub raised shares of Ship Finance International Limited from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Finally, Jefferies Group LLC raised shares of Ship Finance International Limited to a “hold” rating and set a $15.00 price target for the company in a report on Monday, June 5th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $15.50.

Ship Finance International Limited (NYSE:SFL) opened at 13.80 on Friday. Ship Finance International Limited has a 52-week low of $12.07 and a 52-week high of $16.10. The firm has a market cap of $1.29 billion, a P/E ratio of 9.99 and a beta of 1.38. The company’s 50 day moving average is $13.50 and its 200 day moving average is $13.87.

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

Large investors have recently modified their holdings of the stock. Engineers Gate Manager LP increased its stake in shares of Ship Finance International Limited by 3.6% in the first quarter. Engineers Gate Manager LP now owns 69,986 shares of the shipping company’s stock worth $1,029,000 after buying an additional 2,439 shares during the last quarter. Karp Capital Management Corp purchased a new stake in Ship Finance International Limited during the first quarter worth approximately $513,000. Bank of New York Mellon Corp raised its stake in 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 in the last quarter. Advisors Asset Management Inc. raised its stake in Ship Finance International Limited by 1.7% in the first quarter. Advisors Asset Management Inc. now owns 177,563 shares of the shipping company’s stock worth $2,610,000 after buying an additional 3,019 shares in the last quarter. Finally, Albert D Mason Inc. raised its stake in Ship Finance International Limited by 2.3% in the first quarter. Albert D Mason Inc. now owns 46,190 shares of the shipping company’s stock worth $679,000 after buying an additional 1,025 shares in the last quarter. 26.33% of the stock is owned by institutional investors.​

Source: 
baseballnewssource
Top