Ship Finance International (NYSE:SFL) Issues Earnings Results, Misses Expectations By $0.18 EPS

Ship Finance International (NYSE:SFL) announced its quarterly earnings results on Thursday. The shipping company reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.18), reports. Ship Finance International had a net margin of 20.77% and a return on equity of 8.93%. The company had revenue of $111.50 million for the quarter, compared to the consensus estimate of $112.31 million. During the same quarter in the prior year, the company earned $0.28 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis.

Shares of SFL opened at $14.11 on Friday. The business’s 50-day moving average price is $14.53 and its 200-day moving average price is $13.46. Ship Finance International has a twelve month low of $10.31 and a twelve month high of $15.10. The stock has a market cap of $1.68 billion, a PE ratio of 14.39 and a beta of 1.20. The company has a quick ratio of 1.46, a current ratio of 1.49 and a debt-to-equity ratio of 2.03.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 16th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 9.92%. The ex-dividend date is Friday, December 13th. Ship Finance International’s dividend payout ratio is presently 135.92%.

Several equities research analysts have recently weighed in on SFL shares. Zacks Investment Research cut Ship Finance International from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. TheStreet upgraded Ship Finance International from a “c+” rating to a “b-” rating in a research report on Monday, September 9th. Finally, B. Riley reiterated a “hold” rating and set a $15.50 price target on shares of Ship Finance International in a research report on Friday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $14.17.

In related news, insider Cullen Keith purchased 600,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were purchased at an average cost of $0.05 per share, for a total transaction of $30,000.00.

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 for Ship Finance International (NYSE:SFL)

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