SFL (NYSE:SFL) Cut to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded SFL from “Buy” to “Hold,” while MarketBeat’s overall analyst consensus remains “Moderate Buy” with a $14.00 target price.
• SFL reported quarterly EPS of $0.20, beating the $0.07 consensus estimate, and revenue of $174.48 million versus expectations of $170.77 million; however, revenue declined 6.8% year over year.
• The stock opened at $12.06 and has risen above its 50-day and 200-day moving averages, while institutional investors own 28.59% of outstanding shares.

SFL (NYSE:SFL - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

Other equities research analysts also recently issued reports about the company. BTIG Research lifted their price objective on SFL from $12.00 to $14.00 and gave the stock a "buy" rating in a report on Tuesday, May 12th. Weiss Ratings raised shares of SFL from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, May 15th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $14.00.

SFL Stock Performance

SFL stock opened at $12.06 on Friday. The stock's 50 day simple moving average is $11.27 and its 200 day simple moving average is $10.87. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 1.84. SFL has a 12-month low of $6.73 and a 12-month high of $12.94. The stock has a market capitalization of $1.74 billion, a PE ratio of 50.27 and a beta of 0.43.

SFL (NYSE:SFL - Get Free Report) last posted its earnings results on Tuesday, May 12th. The shipping company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.07 by $0.13. The business had revenue of $174.48 million during the quarter, compared to analyst estimates of $170.77 million. SFL had a return on equity of 0.26% and a net margin of 4.37%.The company's quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.24) EPS.

Institutional Investors Weigh In On SFL

Large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake in shares of SFL by 789.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,317 shares of the shipping company's stock worth $28,000 after purchasing an additional 2,944 shares during the period. Triumph Capital Management bought a new stake in SFL during the third quarter valued at approximately $32,000. Signaturefd LLC grew its position in SFL by 30.5% during the fourth quarter. Signaturefd LLC now owns 6,008 shares of the shipping company's stock valued at $47,000 after buying an additional 1,405 shares during the period. Kemnay Advisory Services Inc. purchased a new stake in SFL during the fourth quarter valued at approximately $47,000. Finally, Quadrant Capital Group LLC raised its position in SFL by 122.3% in the fourth quarter. Quadrant Capital Group LLC now owns 6,139 shares of the shipping company's stock worth $48,000 after acquiring an additional 3,377 shares during the period. 28.59% of the stock is currently owned by institutional investors.

SFL Company Profile

Ship Finance International Limited NYSE: SFL is an independent owner of modern, large-size ocean-going vessels that provides finance and leasing services to the global shipping industry. The company’s fleet encompasses a diversified mix of crude oil tankers, product and chemical tankers, liquefied natural gas (LNG) carriers, dry bulk carriers, container vessels and floating production storage and offloading (FPSO) units. By structuring long-term charter agreements and bareboat leases with major oil companies, commodity traders and offshore operators, Ship Finance International seeks to deliver stable cash flows and risk-adjusted returns for its shareholders.

In its core business, Ship Finance International acquires or finances vessels through forward sales agreements and then charters them out under fixed-rate contracts, typically ranging from five to 20 years in duration.

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