SFL (NYSE:SFL) Upgraded at Zacks Investment Research

SFL (NYSE:SFL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, Zacks.com reports. The brokerage currently has a $9.75 price objective on the shipping company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 10.67% from the company’s current price.

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. “

SFL has been the subject of a number of other research reports. B. Riley upped their price objective on shares of SFL from $8.50 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, May 13th. TheStreet raised shares of SFL from a “d+” rating to a “c-” rating in a research note on Thursday, February 18th.

Shares of SFL opened at $8.81 on Wednesday. The company’s 50-day moving average is $8.22. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -9.18 and a beta of 1.09. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.55 and a quick ratio of 0.60. SFL has a 52 week low of $5.85 and a 52 week high of $10.42.

SFL (NYSE:SFL) last announced its quarterly earnings data on Wednesday, May 12th. The shipping company reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.14. The business had revenue of $109.20 million during the quarter, compared to analyst estimates of $107.01 million. SFL had a negative net margin of 23.11% and a positive return on equity of 10.59%. During the same quarter in the prior year, the business earned ($0.81) earnings per share. Equities research analysts predict that SFL will post 0.85 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its stake in SFL by 8.5% in the first quarter. Royal Bank of Canada now owns 23,241 shares of the shipping company’s stock valued at $186,000 after acquiring an additional 1,828 shares during the period. M&T Bank Corp grew its stake in SFL by 11.1% during the fourth quarter. M&T Bank Corp now owns 20,000 shares of the shipping company’s stock worth $125,000 after buying an additional 2,000 shares during the last quarter. Tudor Investment Corp Et Al grew its stake in SFL by 0.7% during the fourth quarter. Tudor Investment Corp Et Al now owns 304,053 shares of the shipping company’s stock worth $1,909,000 after buying an additional 2,091 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in SFL by 11.3% during the first quarter. Commonwealth Equity Services LLC now owns 26,627 shares of the shipping company’s stock worth $213,000 after buying an additional 2,700 shares during the last quarter. Finally, Level Four Advisory Services LLC grew its stake in SFL by 24.0% during the first quarter. Level Four Advisory Services LLC now owns 14,713 shares of the shipping company’s stock worth $118,000 after buying an additional 2,851 shares during the last quarter. 25.54% of the stock is currently owned by institutional investors and hedge funds.

About SFL

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

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