Zacks: Analysts Expect Ship Finance International Limited (NYSE:SFL) Will Post Quarterly Sales of $114.61 Million

Analysts expect Ship Finance International Limited (NYSE:SFL) to post $114.61 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Ship Finance International’s earnings. The lowest sales estimate is $114.23 million and the highest is $115.00 million. Ship Finance International posted sales of $96.80 million in the same quarter last year, which suggests a positive year-over-year growth rate of 18.4%. The firm is expected to report its next quarterly earnings results before the market opens on Saturday, August 31st.

On average, analysts expect that Ship Finance International will report full-year sales of $454.42 million for the current financial year, with estimates ranging from $449.85 million to $459.00 million. For the next financial year, analysts anticipate that the firm will report sales of $470.01 million, with estimates ranging from $465.16 million to $474.87 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Ship Finance International.

Ship Finance International (NYSE:SFL) last announced its earnings results on Tuesday, May 21st. The shipping company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. The business had revenue of $116.54 million for the quarter, compared to analysts’ expectations of $116.35 million. Ship Finance International had a net margin of 18.64% and a return on equity of 9.35%. During the same period in the previous year, the company posted $0.24 EPS.

Several equities research analysts have recently issued reports on SFL shares. Zacks Investment Research upgraded Ship Finance International from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Wednesday, July 31st. ValuEngine upgraded Ship Finance International from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Finally, TheStreet upgraded Ship Finance International from a “c” rating to a “b-” rating in a report on Tuesday, May 21st. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Ship Finance International currently has an average rating of “Buy” and a consensus target price of $13.33.

Shares of Ship Finance International stock traded up $0.23 during trading on Friday, hitting $12.72. 461,400 shares of the stock traded hands, compared to its average volume of 465,078. The stock has a market cap of $1.50 billion, a P/E ratio of 12.35 and a beta of 1.28. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.29 and a current ratio of 1.32. Ship Finance International has a twelve month low of $10.31 and a twelve month high of $14.85. The company has a fifty day moving average price of $12.83 and a two-hundred day moving average price of $12.60.

Several institutional investors have recently made changes to their positions in the company. UBS Group AG boosted its stake in Ship Finance International by 499.7% in the 2nd quarter. UBS Group AG now owns 678,461 shares of the shipping company’s stock valued at $8,487,000 after buying an additional 565,327 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in Ship Finance International by 6.1% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 20,231 shares of the shipping company’s stock valued at $253,000 after buying an additional 1,164 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Ship Finance International by 3.2% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 42,508 shares of the shipping company’s stock valued at $532,000 after buying an additional 1,305 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in Ship Finance International in the 2nd quarter valued at $4,394,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Ship Finance International in the 2nd quarter valued at $277,000. Institutional investors and hedge funds own 28.47% of the company’s stock.

Ship Finance International Company Profile

Ship Finance International Ltd. engages in the ownership and operation of vessels and offshore related assets. It also involves in the charter, purchase, and sale of assets. Its assets include oil tankers, dry bulk carriers, container vessels, car carriers, jack-up drilling rig, ultra-deepwater drilling units, offshore supply vessels, and chemical tankers.

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Earnings History and Estimates for Ship Finance International (NYSE:SFL)

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