SFL (NYSE:SFL) Upgraded at Zacks Investment Research

SFL (NYSE:SFLGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

According to Zacks, “SFL Corporation Ltd. owns and operates vessels and offshore related assets primarily in Bermuda, Cyprus, Malta, Liberia, Norway, the United Kingdom and the Marshall Islands. SFL Corporation Ltd., formerly known as Ship Finance International Limited, is based in Hamilton, Bermuda. “

Other equities analysts also recently issued reports about the stock. Jefferies Financial Group increased their price objective on shares of SFL from $10.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, February 17th. StockNews.com began coverage on SFL in a research note on Thursday, March 31st. They set a “hold” rating for the company. DNB Markets downgraded SFL from a “buy” rating to a “hold” rating in a research report on Friday, February 18th. Finally, TheStreet raised SFL from a “c-” rating to a “b” rating in a research note on Wednesday, February 16th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $9.75.

NYSE SFL opened at $10.57 on Wednesday. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 8.07 and a beta of 0.78. The stock has a 50-day moving average of $10.02 and a 200 day moving average of $8.93. The company has a current ratio of 0.63, a quick ratio of 0.60 and a debt-to-equity ratio of 2.10. SFL has a twelve month low of $6.67 and a twelve month high of $10.84.

SFL (NYSE:SFLGet Rating) last posted its quarterly earnings data on Wednesday, February 16th. The shipping company reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.05. SFL had a return on equity of 12.77% and a net margin of 32.01%. The business had revenue of $151.10 million during the quarter, compared to analysts’ expectations of $153.21 million. During the same period in the previous year, the business earned $0.17 earnings per share. The business’s revenue was up 31.5% compared to the same quarter last year. Equities analysts predict that SFL will post 1.04 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of the stock. Counterpoint Mutual Funds LLC acquired a new position in SFL during the fourth quarter worth $25,000. Capital Analysts LLC acquired a new position in shares of SFL during the 3rd quarter valued at about $38,000. Newbridge Financial Services Group Inc. grew its holdings in shares of SFL by 47.3% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 5,109 shares of the shipping company’s stock valued at $42,000 after purchasing an additional 1,640 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of SFL in the 4th quarter valued at $88,000. Finally, Principal Financial Group Inc. purchased a new position in SFL during the fourth quarter worth about $88,000. 29.69% of the stock is owned by hedge funds and other institutional investors.

About SFL (Get Rating)

SFL Corporation Ltd., a maritime and offshore asset owning and chartering company, engages in the ownership, operation, and chartering out of vessels and offshore related assets on medium and long-term charters. The company is also involved in the charter, purchase, and sale of assets. In addition, it operates in various sectors of the maritime, and shipping and offshore industries, including oil, chemical, oil product, container, and car transportation, as well as dry bulk shipments and drilling rigs.

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