SFL (NYSE:SFL) Posts Quarterly Earnings Results, Beats Expectations By $0.11 EPS

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

SFL Trading Down 0.2%

Shares of SFL stock opened at $12.24 on Wednesday. SFL has a 12-month low of $6.73 and a 12-month high of $12.94. The company has a market capitalization of $1.77 billion, a P/E ratio of 50.99 and a beta of 0.43. The firm has a 50-day moving average price of $11.53 and a 200 day moving average price of $11.19. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 1.84.

Institutional Trading of SFL

Several hedge funds have recently modified their holdings of SFL. Brighton Jones LLC boosted its holdings in shares of SFL by 8.2% in the 4th quarter. Brighton Jones LLC now owns 19,395 shares of the shipping company’s stock worth $198,000 after acquiring an additional 1,474 shares in the last quarter. AQR Capital Management LLC boosted its stake in SFL by 52.8% in the first quarter. AQR Capital Management LLC now owns 21,060 shares of the shipping company’s stock worth $173,000 after purchasing an additional 7,273 shares in the last quarter. Jane Street Group LLC boosted its stake in SFL by 122.0% in the first quarter. Jane Street Group LLC now owns 181,556 shares of the shipping company’s stock worth $1,489,000 after purchasing an additional 99,767 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of SFL by 10.4% during the second quarter. Cetera Investment Advisers now owns 16,034 shares of the shipping company’s stock worth $134,000 after purchasing an additional 1,510 shares during the last quarter. Finally, Prudential Financial Inc. bought a new position in shares of SFL in the second quarter valued at about $139,000. Institutional investors and hedge funds own 28.59% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of SFL in a research note on Wednesday, August 12th. BTIG Research increased their target price on SFL from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, Wall Street Zen upgraded SFL from a “hold” rating to a “buy” rating in a research report on Saturday. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.