SFL (NYSE:SFL) Announces Quarterly Earnings Results

SFL (NYSE:SFL) posted its earnings results on Wednesday. The shipping company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.11, FiscalAI reports. The company had revenue of $200.77 million for the quarter, compared to the consensus estimate of $179.65 million. SFL had a return on equity of 0.26% and a net margin of 4.37%.

SFL Stock Down 0.2%

NYSE:SFL opened at $12.24 on Wednesday. The company’s 50-day simple moving average is $11.53 and its 200-day simple moving average is $11.19. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.32 and a current ratio of 0.32. SFL has a fifty-two week low of $6.73 and a fifty-two week high of $12.94. The stock has a market capitalization of $1.77 billion, a P/E ratio of 50.99 and a beta of 0.43.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SFL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in SFL by 3.5% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,904,433 shares of the shipping company’s stock worth $21,870,000 after acquiring an additional 97,689 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of SFL by 16.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,259,801 shares of the shipping company’s stock valued at $9,839,000 after acquiring an additional 174,072 shares during the period. Empowered Funds LLC raised its stake in SFL by 15.1% in the 4th quarter. Empowered Funds LLC now owns 660,013 shares of the shipping company’s stock worth $5,155,000 after acquiring an additional 86,339 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in SFL by 4.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 509,232 shares of the shipping company’s stock worth $3,977,000 after acquiring an additional 23,937 shares during the last quarter. Finally, Voloridge Investment Management LLC lifted its position in SFL by 25.0% during the 4th quarter. Voloridge Investment Management LLC now owns 295,668 shares of the shipping company’s stock worth $2,309,000 after acquiring an additional 59,141 shares during the period. 28.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SFL. Weiss Ratings reaffirmed a “hold (c)” rating on shares of SFL in a research note on Wednesday, August 12th. BTIG Research lifted their target price on SFL from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Finally, Wall Street Zen raised shares of SFL from a “hold” rating to a “buy” rating in a research report on Saturday. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, SFL currently has a consensus rating of “Moderate Buy” and an average target price of $14.00.

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.