Ship Finance International Limited (SFL) Downgraded by Zacks Investment Research to “Sell”

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

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 raised shares of Ship Finance International Limited from a “neutral” rating to a “buy” rating in a report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Ship Finance International Limited presently has a consensus rating of “Hold” and an average target price of $16.00.

Ship Finance International Limited (SFL) opened at $14.85 on Wednesday. Ship Finance International Limited has a fifty-two week low of $12.30 and a fifty-two week high of $16.10. The company has a market cap of $1,411.92, a price-to-earnings ratio of 11.02 and a beta of 1.40.

Ship Finance International Limited (NYSE:SFL) last announced its quarterly earnings results on Wednesday, August 30th. The shipping company reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.02. Ship Finance International Limited had a net margin of 29.59% and a return on equity of 11.26%. The firm had revenue of $94.22 million during the quarter, compared to the consensus estimate of $95.70 million. equities analysts anticipate that Ship Finance International Limited will post 1.22 EPS for the current year.

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Hedge funds and other institutional investors have recently bought and sold shares of the company. PARK CIRCLE Co bought a new stake in shares of Ship Finance International Limited during the 2nd quarter worth $408,000. Alliancebernstein L.P. lifted its holdings in shares of Ship Finance International Limited by 14.6% during the 2nd quarter. Alliancebernstein L.P. now owns 109,103 shares of the shipping company’s stock worth $1,484,000 after acquiring an additional 13,900 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Ship Finance International Limited by 9.1% during the 2nd quarter. Wells Fargo & Company MN now owns 166,939 shares of the shipping company’s stock worth $2,270,000 after acquiring an additional 13,952 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Ship Finance International Limited by 14.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 95,542 shares of the shipping company’s stock worth $1,300,000 after acquiring an additional 11,714 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Ship Finance International Limited by 40.3% during the 1st quarter. Ameriprise Financial Inc. now owns 14,457 shares of the shipping company’s stock worth $212,000 after acquiring an additional 4,150 shares during the last quarter. 27.06% of the stock is owned by institutional investors.

Ship Finance International Limited 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.

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