Ship Finance International (NYSE:SFL) declared a quarterly dividend on Thursday, March 1st, Wall Street Journal reports. Stockholders of record on Monday, March 19th will be given a dividend of 0.35 per share by the shipping company on Tuesday, March 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 9.89%. The ex-dividend date of this dividend is Friday, March 16th.
Ship Finance International has decreased its dividend by an average of 0.6% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. Ship Finance International has a dividend payout ratio of 112.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Ship Finance International to earn $1.01 per share next year, which means the company may not be able to cover its $1.40 annual dividend with an expected future payout ratio of 138.6%.
SFL traded down $0.15 during trading on Monday, reaching $14.15. 478,593 shares of the company’s stock were exchanged, compared to its average volume of 574,885. Ship Finance International has a fifty-two week low of $12.30 and a fifty-two week high of $15.98. The firm has a market capitalization of $1,471.91, a PE ratio of 11.89 and a beta of 1.33. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.91 and a current ratio of 0.92.
Ship Finance International (NYSE:SFL) last posted its quarterly earnings data on Tuesday, February 27th. The shipping company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). Ship Finance International had a net margin of 26.57% and a return on equity of 10.08%. The company had revenue of $96.10 million during the quarter, compared to the consensus estimate of $96.88 million. equities analysts forecast that Ship Finance International will post 0.92 EPS for the current year.
Several research firms have recently weighed in on SFL. Goldman Sachs lowered shares of Ship Finance International from a “neutral” rating to a “sell” rating in a research note on Wednesday, January 17th. Jefferies Group assumed coverage on shares of Ship Finance International in a research note on Monday, December 18th. They issued a “hold” rating and a $15.00 price target on the stock. Zacks Investment Research upgraded shares of Ship Finance International from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 15th. Finally, Morgan Stanley increased their target price on shares of Ship Finance International from $13.50 to $14.50 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Ship Finance International presently has a consensus rating of “Hold” and a consensus price target of $15.50.
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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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