SFL (NYSE:SFL) Rating Increased to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded SFL from “hold” to “buy,” adding to a generally positive analyst view of the stock. MarketBeat notes the consensus rating is now “Moderate Buy” with a $14.00 price target.
• SFL recently beat earnings expectations, reporting $0.20 EPS versus the $0.07 consensus and revenue of $174.48 million, slightly above estimates. However, revenue was still down 6.8% year over year.
• The stock was trading around $11.90, near its 52-week high of $12.94, with a market cap of $1.72 billion. Institutional ownership remains significant, with hedge funds and other institutions holding 28.59% of shares.

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

SFL has been the topic of several other reports. BTIG Research raised their price objective on SFL from $12.00 to $14.00 and gave the company 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 research note on Friday, May 15th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $14.00.

SFL Trading Up 0.4%

Shares of NYSE:SFL opened at $11.90 on Friday. The stock has a 50 day moving average of $11.26 and a 200 day moving average of $10.60. 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 company has a market cap of $1.72 billion, a PE ratio of 49.60 and a beta of 0.44.

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, beating analysts' consensus estimates of $0.07 by $0.13. The firm had revenue of $174.48 million for the quarter, compared to analysts' expectations 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 period last year, the firm earned ($0.24) EPS.

Institutional Investors Weigh In On SFL

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Burney Co. purchased a new position in shares of SFL in the first quarter worth about $879,000. Tudor Investment Corp ET AL acquired a new stake in SFL in the 3rd quarter valued at about $668,000. Everstar Asset Management LLC raised its holdings in SFL by 70.4% in the 4th quarter. Everstar Asset Management LLC now owns 133,011 shares of the shipping company's stock valued at $1,040,000 after acquiring an additional 54,962 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new position in SFL in the 1st quarter worth approximately $879,000. Finally, Brighton Jones LLC boosted its holdings in shares of SFL by 8.2% during the 4th quarter. Brighton Jones LLC now owns 19,395 shares of the shipping company's stock worth $198,000 after purchasing an additional 1,474 shares during the last quarter. 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.