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Can Ship Finance (SFL) Run Higher on Strong Earnings Estimate Revisions?

Zacks Equity Research

Ship Finance International (SFL, a company which owns and operates vessels and offshore related assets could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on SFL’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Ship Finance could be a solid choice for investors.

Current Quarter Estimates for SFL

In the past 30 days, three estimates have gone higher for Ship Finance while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 25 cents a share 30 days ago, to 27 cents today, a move of 8%.

Current Year Estimates for SFL

Meanwhile, Ship Finance’s current year figures are also looking quite promising, with two estimates moving higher in the past month, compared to one lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $1.14 per share 30 days ago to $1.22 per share today, an increase of 7%.

Ship Finance International Limited Price and Consensus

Ship Finance International Limited Price and Consensus | Ship Finance International Limited Quote

Bottom Line

The stock has also started to move higher lately, adding 12.3% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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