Ship Finance International Up Nearly 2% (SFL)

While the broader market is down today, shares of Ship Finance International (NYSE: SFL) are trading up nearly 2% at $17.67 per share on Thursday afternoon. The day's trading range for shares of Ship Finance International has been between $17.40 and $18.12 per share. Analysts covering the company's stock have a consensus price target of $22.33 per share.

Volume of 256,000 shares is still well below the daily average volume of 407,000 shares.

Ship Finance International (SFL) released financial results on Thursday morning that beat Wall Street earnings estimates, while missing revenue estimates. Ship Finance International announced 2nd quarter operating income of 63 cents per share, on revenue of $80.8 million.

According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 57 cents per share, on revenue of $81.72 million.

Ship Finance International's board of directors also increased the quarterly dividend to 35 cents per share. It's the second time that the company has increased its dividend this year and the 26th consecutive quarter that the company has paid a dividend to its shareholders.

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