Ship Finance International (NYSE:SFL) posted its earnings results on Tuesday, February 27th. The shipping company reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.01), Morningstar.com reports. Ship Finance International had a net margin of 26.57% and a return on equity of 10.08%. The business had revenue of $96.10 million for the quarter, compared to analyst estimates of $96.88 million.
Ship Finance International (NYSE SFL) traded down $0.10 during trading on Wednesday, reaching $14.75. 608,260 shares of the company’s stock were exchanged, compared to its average volume of 590,004. The firm has a market cap of $1,510.00, a price-to-earnings ratio of 16.85 and a beta of 1.37. Ship Finance International has a 52-week low of $12.30 and a 52-week high of $15.98. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.92 and a quick ratio of 0.82.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 27th. Shareholders of record on Monday, March 19th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 9.49%. The ex-dividend date of this dividend is Friday, March 16th. Ship Finance International’s payout ratio is 159.09%.
SFL has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Ship Finance International from a “strong sell” rating to a “hold” rating in a report on Thursday, February 15th. Morgan Stanley boosted their target price on shares of Ship Finance International from $13.50 to $14.50 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. Jefferies Group initiated coverage on shares of Ship Finance International in a research report on Monday, December 18th. They issued a “hold” rating and a $15.00 target price for the company. Finally, Goldman Sachs Group downgraded shares of Ship Finance International from a “neutral” rating to a “sell” rating in a research report on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $15.50.
Several large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its stake in shares of Ship Finance International by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 45,661 shares of the shipping company’s stock worth $621,000 after acquiring an additional 196 shares during the period. Stifel Financial Corp lifted its stake in shares of Ship Finance International by 2.1% in the 2nd quarter. Stifel Financial Corp now owns 11,019 shares of the shipping company’s stock worth $150,000 after acquiring an additional 226 shares during the period. TIAA CREF Investment Management LLC lifted its stake in shares of Ship Finance International by 0.6% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 164,002 shares of the shipping company’s stock worth $2,230,000 after acquiring an additional 980 shares during the period. Voya Investment Management LLC lifted its stake in shares of Ship Finance International by 12.9% in the 2nd quarter. Voya Investment Management LLC now owns 29,395 shares of the shipping company’s stock worth $400,000 after acquiring an additional 3,368 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Ship Finance International by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 125,068 shares of the shipping company’s stock worth $1,938,000 after acquiring an additional 3,452 shares during the period. 33.70% of the stock is owned by institutional investors.
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Ship Finance International 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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