Canada Pension Plan Investment Board lifted its position in Ship Finance International Limited (NYSE:SFL) by 860,000.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 86,010 shares of the shipping company’s stock after purchasing an additional 86,000 shares during the quarter. Canada Pension Plan Investment Board owned about 0.07% of Ship Finance International worth $1,286,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Synovus Financial Corp bought a new position in shares of Ship Finance International in the first quarter worth $100,000. Archford Capital Strategies LLC bought a new position in Ship Finance International in the first quarter valued at $112,000. Cullen Frost Bankers Inc. bought a new position in Ship Finance International in the first quarter valued at $147,000. Amalgamated Bank bought a new position in Ship Finance International in the second quarter valued at $169,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Ship Finance International in the first quarter valued at $210,000. 31.12% of the stock is currently owned by hedge funds and other institutional investors.
SFL opened at $13.85 on Friday. The firm has a market capitalization of $1.73 billion, a P/E ratio of 11.78 and a beta of 1.20. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.89. Ship Finance International Limited has a 52 week low of $13.15 and a 52 week high of $15.98.
Ship Finance International (NYSE:SFL) last released its earnings results on Wednesday, August 22nd. The shipping company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.10. The business had revenue of $96.80 million for the quarter, compared to analysts’ expectations of $101.65 million. Ship Finance International had a return on equity of 9.56% and a net margin of 23.55%. During the same quarter in the prior year, the firm earned $0.35 earnings per share. sell-side analysts anticipate that Ship Finance International Limited will post 1.11 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 27th. Investors of record on Friday, September 14th will be paid a $0.35 dividend. The ex-dividend date is Thursday, September 13th. This represents a $1.40 dividend on an annualized basis and a yield of 10.11%. Ship Finance International’s dividend payout ratio is presently 117.65%.
SFL has been the topic of a number of research analyst reports. Zacks Investment Research cut Ship Finance International from a “hold” rating to a “sell” rating in a research note on Saturday, August 25th. Seaport Global Securities raised Ship Finance International from a “neutral” rating to a “buy” rating and set a $18.00 target price on the stock in a research note on Friday, June 1st. Nordea Equity Research raised Ship Finance International from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, TheStreet cut Ship Finance International from a “b” rating to a “c+” rating in a research note on Thursday, August 23rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $16.13.
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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