Ship Finance International (NYSE:SFL) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research cut shares of Ship Finance International (NYSE:SFL) from a strong-buy rating to a hold rating in a report issued on Thursday morning, Zacks.com reports.

According to Zacks, “SFL Corporation Ltd. owns and operates vessels and offshore related assets primarily in Bermuda, Cyprus, Malta, Liberia, Norway, the United Kingdom and the Marshall Islands. SFL Corporation Ltd., formerly known as Ship Finance International Limited, is based in Hamilton, Bermuda. “

A number of other equities analysts also recently issued reports on SFL. B. Riley restated a hold rating and issued a $15.50 price target on shares of Ship Finance International in a research note on Friday, November 22nd. ValuEngine lowered Ship Finance International from a hold rating to a sell rating in a report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $15.75.

Ship Finance International stock traded down $0.26 during midday trading on Thursday, reaching $13.81. 970,933 shares of the company traded hands, compared to its average volume of 613,827. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 21.58 and a beta of 1.17. The business has a 50 day moving average of $14.53 and a two-hundred day moving average of $14.05. Ship Finance International has a 12 month low of $11.65 and a 12 month high of $15.10. The company has a debt-to-equity ratio of 2.13, a current ratio of 1.31 and a quick ratio of 1.46.

Ship Finance International (NYSE:SFL) last posted its earnings results on Thursday, November 21st. The shipping company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.24. The business had revenue of $111.50 million during the quarter, compared to the consensus estimate of $112.31 million. Ship Finance International had a net margin of 15.08% and a return on equity of 8.69%. The firm’s revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 EPS. As a group, equities analysts forecast that Ship Finance International will post 0.67 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 10.14%. The ex-dividend date of this dividend was Friday, December 13th. Ship Finance International’s dividend payout ratio (DPR) is presently 135.92%.

In other Ship Finance International news, insider Cullen Keith acquired 600,000 shares of the stock in a transaction dated Monday, November 4th. The shares were purchased at an average price of $0.05 per share, for a total transaction of $30,000.00.

Large investors have recently modified their holdings of the company. Huntington National Bank lifted its stake in shares of Ship Finance International by 436.0% in the 4th quarter. Huntington National Bank now owns 2,680 shares of the shipping company’s stock worth $39,000 after purchasing an additional 2,180 shares during the period. US Bancorp DE lifted its stake in shares of Ship Finance International by 121.1% in the 2nd quarter. US Bancorp DE now owns 8,271 shares of the shipping company’s stock worth $103,000 after purchasing an additional 4,531 shares during the period. Sunbelt Securities Inc. bought a new position in shares of Ship Finance International in the 3rd quarter worth approximately $146,000. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Ship Finance International in the 3rd quarter worth approximately $154,000. Finally, Bank of Montreal Can lifted its stake in shares of Ship Finance International by 97.6% in the 2nd quarter. Bank of Montreal Can now owns 13,960 shares of the shipping company’s stock worth $175,000 after purchasing an additional 6,896 shares during the period. Hedge funds and other institutional investors own 31.23% of the company’s stock.

Ship Finance International Company Profile

Ship Finance International Ltd. engages in the ownership and operation of vessels and offshore related assets. It also involves in the charter, purchase, and sale of assets. Its assets include oil tankers, dry bulk carriers, container vessels, car carriers, jack-up drilling rig, ultra-deepwater drilling units, offshore supply vessels, and chemical tankers.

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