Ship Finance International (SFL) Downgraded to “Sell” at ValuEngine

ValuEngine cut shares of Ship Finance International (NYSE:SFL) from a hold rating to a sell rating in a research note issued to investors on Thursday, September 13th.

A number of other research analysts also recently commented on the stock. Zacks Investment Research raised shares of Ship Finance International from a sell rating to a hold rating in a research report on Thursday, May 31st. TheStreet downgraded shares of Ship Finance International from a b rating to a c+ rating in a research report on Thursday, August 23rd. Seaport Global Securities raised shares of Ship Finance International from a neutral rating to a buy rating and set a $18.00 price objective on the stock in a research report on Friday, June 1st. Finally, Nordea Equity Research raised shares of Ship Finance International from a hold rating to a buy rating in a research report on Thursday, September 6th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Ship Finance International currently has a consensus rating of Hold and an average price target of $16.13.

Shares of SFL traded up $0.01 during midday trading on Thursday, reaching $13.83. The stock had a trading volume of 486,595 shares, compared to its average volume of 786,128. Ship Finance International has a 1-year low of $13.50 and a 1-year high of $15.98. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 11.62 and a beta of 1.21. The company has a current ratio of 0.50, a quick ratio of 0.49 and a debt-to-equity ratio of 0.95.

Ship Finance International (NYSE:SFL) last announced its quarterly earnings data on Wednesday, August 22nd. The shipping company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.10. Ship Finance International had a net margin of 23.55% and a return on equity of 9.40%. The business had revenue of $96.80 million for the quarter, compared to analyst estimates of $101.65 million. During the same period last year, the business earned $0.35 EPS. On average, analysts predict that Ship Finance International will post 1.11 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 27th. Stockholders of record on Friday, September 14th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 10.12%. The ex-dividend date of this dividend was Thursday, September 13th. Ship Finance International’s payout ratio is 117.65%.

Large investors have recently modified their holdings of the company. Capital Fund Management S.A. purchased a new stake in shares of Ship Finance International in the second quarter valued at about $774,000. Albert D Mason Inc. lifted its stake in shares of Ship Finance International by 18.9% in the second quarter. Albert D Mason Inc. now owns 74,155 shares of the shipping company’s stock valued at $1,109,000 after purchasing an additional 11,785 shares during the period. Martingale Asset Management L P acquired a new stake in shares of Ship Finance International in the second quarter valued at about $2,243,000. Canada Pension Plan Investment Board lifted its stake in shares of Ship Finance International by 860,000.0% in the second quarter. Canada Pension Plan Investment Board now owns 86,010 shares of the shipping company’s stock valued at $1,286,000 after purchasing an additional 86,000 shares during the period. Finally, BlueMountain Capital Management LLC lifted its stake in shares of Ship Finance International by 17,907.7% in the second quarter. BlueMountain Capital Management LLC now owns 34,935 shares of the shipping company’s stock valued at $522,000 after purchasing an additional 34,741 shares during the period. 31.12% of the stock is currently owned by institutional investors and hedge funds.

About Ship Finance International

Ship Finance International Limited owns and operates vessels and offshore related assets primarily in Bermuda, Cyprus, Malta, Liberia, Norway, the United Kingdom, and the Marshall Islands. It is also involved in the charter, purchase, and sale of assets. In addition, the company operates in various sectors of the shipping and offshore industry, including oil transportation, dry bulk shipments, chemical transportation, oil product transportation, container transportation, car transportation, drilling rigs, and offshore supply vessels.

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