SFL (NYSE:SFL) Lowered to Hold Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded SFL from a buy rating to a hold rating, even as other firms remain more constructive on the stock.
• BTIG Research recently raised its price target on SFL to $14 from $12 and kept a buy rating, while MarketBeat says the consensus rating is still Moderate Buy with an average target of $14.
• SFL shares were down 1.7% to $11.10, and the company recently reported better-than-expected quarterly earnings of $0.20 per share on revenue of $174.48 million.

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

Several other brokerages have also recently commented on SFL. Weiss Ratings raised SFL from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, May 15th. BTIG Research boosted their price target on shares of SFL from $12.00 to $14.00 and gave the company a "buy" rating in a report on Tuesday, May 12th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $14.00.

SFL Trading Down 1.7%

SFL stock opened at $11.10 on Friday. The business has a 50 day moving average price of $11.35 and a two-hundred day moving average price of $10.46. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 1.84. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 46.24 and a beta of 0.44. SFL has a 12 month low of $6.73 and a 12 month high of $12.94.

SFL (NYSE:SFL - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $174.48 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the company earned ($0.24) EPS.

Institutional Trading of SFL

Several hedge funds have recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in shares of SFL by 8.2% in the 4th quarter. Brighton Jones LLC now owns 19,395 shares of the shipping company's stock worth $198,000 after acquiring an additional 1,474 shares in the last quarter. AQR Capital Management LLC increased its holdings in SFL by 52.8% during the 1st quarter. AQR Capital Management LLC now owns 21,060 shares of the shipping company's stock valued at $173,000 after purchasing an additional 7,273 shares in the last quarter. Jane Street Group LLC increased its holdings in SFL by 122.0% during the 1st quarter. Jane Street Group LLC now owns 181,556 shares of the shipping company's stock valued at $1,489,000 after purchasing an additional 99,767 shares in the last quarter. Cetera Investment Advisers raised its position in SFL by 10.4% in the 2nd quarter. Cetera Investment Advisers now owns 16,034 shares of the shipping company's stock valued at $134,000 after purchasing an additional 1,510 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new position in SFL in the second quarter worth $139,000. Institutional investors and hedge funds own 28.59% of the company's stock.

About SFL

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.