Profit in shipping
On Financial Tides I'm always looking for new opportunities. Today, Ship Financial International LTD. (SFL ) fits that profile. Ship Finance is a major ship owning company. Including new buildings, Ship Finance owns a fleet consisting of vessels, including crude oil tankers (VLCC and Suezmax), oil/bulk/ore vessels, container vessels, dry bulk carriers, jack-up drilling rigs and seismic vessels. The fleet is one of the largest in the world and most of the vessels are employed on medium or long-term charters.
The company came up on my sonar when it had 18 days of price appreciation in the last 20 trading sessions and was 5 for 5 recently. There has been a 35.21% price appreciation in the last month and Barchart's technical indicators have 12 of the 13 signaling buy with a hold on the last one; that's a 96% technical buy signal.
Analysts think that this year the stock will have a 21.4% increase in sales and a 14.5% increase in earnings per share. They also have 7 buy and 2 hold recommendations published with no under perform or sell calls.
Investor sentiment is high on Motley Fool with the CAPS members voting 441 to 19 that the stock will out perform the market with the All Stars in agreement 134 to 3. The Wall Street columnists Fool follows also agree 4 to 0.
Please do your own due diligence to see it there is a place for this stock in your portfolio. This triple hitter has positive price momentum, good analysts recommendations and positive investor sentiment.
The stock is selling around 19 with a 50 day moving average at 15.50.
Jim Van Meerten is an investor who writes on financial matters here and on Financial Tides. Please leave a comment below or email JimVanMeerten@gmail.com
Disclosure: no positions in SFL at the time of publication