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

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

SFL Price Performance

NYSE SFL opened at $12.24 on Wednesday. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.32 and a quick ratio of 0.32. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 50.99 and a beta of 0.43. The company has a 50 day simple moving average of $11.53 and a 200-day simple moving average of $11.19. SFL has a 52-week low of $6.73 and a 52-week high of $12.94.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC purchased a new stake in SFL in the 4th quarter worth approximately $121,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of SFL during the 4th quarter valued at $144,000. Empowered Funds LLC grew its holdings in shares of SFL by 15.1% during the 4th quarter. Empowered Funds LLC now owns 660,013 shares of the shipping company’s stock valued at $5,155,000 after acquiring an additional 86,339 shares in the last quarter. Voloridge Investment Management LLC increased its stake in shares of SFL by 25.0% in the fourth 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 last quarter. Finally, Man Group plc purchased a new stake in shares of SFL during the fourth quarter worth $1,024,000. Institutional investors and hedge funds own 28.59% of the company’s stock.

SFL Company Profile

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.