Ship Finance International Limited (SFL) Expected to Announce Quarterly Sales of $101.65 Million

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Equities research analysts expect that Ship Finance International Limited (NYSE:SFL) will report $101.65 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Ship Finance International’s earnings, with estimates ranging from $95.50 million to $107.79 million. Ship Finance International posted sales of $94.22 million in the same quarter last year, which would indicate a positive year over year growth rate of 7.9%. The business is scheduled to report its next earnings results on Wednesday, August 29th.

On average, analysts expect that Ship Finance International will report full year sales of $429.64 million for the current year, with estimates ranging from $406.90 million to $452.37 million. For the next financial year, analysts expect that the business will post sales of $476.33 million per share, with estimates ranging from $454.20 million to $498.46 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Ship Finance International.

Ship Finance International (NYSE:SFL) last announced its earnings results on Thursday, May 31st. The shipping company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.03. Ship Finance International had a net margin of 24.87% and a return on equity of 9.27%. The business had revenue of $92.30 million during the quarter, compared to analyst estimates of $92.12 million. Ship Finance International’s revenue was down 4.7% on a year-over-year basis.

Several equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Ship Finance International from a “strong-buy” rating to a “sell” rating in a research report on Tuesday, August 7th. Seaport Global Securities upgraded shares of Ship Finance International from a “neutral” rating to a “buy” rating and set a $18.00 target price for the company in a research report on Friday, June 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $16.13.

Ship Finance International traded down $0.10, hitting $14.75, during mid-day trading on Tuesday, Marketbeat Ratings reports. 283,777 shares of the company traded hands, compared to its average volume of 643,341. Ship Finance International has a one year low of $12.85 and a one year high of $15.98. The firm has a market cap of $1.82 billion, a PE ratio of 12.39 and a beta of 1.23. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.66 and a quick ratio of 0.66.

Several hedge funds have recently bought and sold shares of SFL. Synovus Financial Corp purchased a new position in shares of Ship Finance International in the first quarter worth $100,000. Archford Capital Strategies LLC purchased a new position in Ship Finance International during the 1st quarter valued at $112,000. Cullen Frost Bankers Inc. purchased a new position in Ship Finance International during the 1st quarter valued at $147,000. Amalgamated Bank purchased a new position in Ship Finance International during the 2nd quarter valued at $169,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Ship Finance International during the 1st quarter valued at $210,000. 23.69% of the stock is currently owned by hedge funds and other institutional investors.

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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