SFL (NYSE:SFL) Shares Cross Above 200 Day Moving Average – Here’s What Happened

SFL Corporation Ltd. (NYSE:SFL)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.18 and traded as high as $10.68. SFL shares last traded at $10.3450, with a volume of 1,526,591 shares changing hands.

Wall Street Analysts Forecast Growth

SFL has been the subject of several research reports. BTIG Research upped their target price on shares of SFL from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Wall Street Zen upgraded SFL from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Finally, Weiss Ratings raised SFL from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 15th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, SFL presently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

SFL Price Performance

The firm has a market capitalization of $1.48 billion, a P/E ratio of 42.73 and a beta of 0.41. The business’s 50-day simple moving average is $11.45 and its 200 day simple moving average is $10.19. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 1.84.

SFL (NYSE:SFL) last announced its quarterly earnings data on Tuesday, May 12th. The shipping company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.13. SFL had a net margin of 4.37% and a return on equity of 0.26%. The firm had revenue of $174.48 million during the quarter, compared to analyst estimates of $170.77 million. During the same period in the previous year, the business posted ($0.24) EPS. The business’s quarterly revenue was down 6.8% on a year-over-year basis.

SFL Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th were paid a $0.22 dividend. This is a boost from SFL’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 8.6%. The ex-dividend date of this dividend was Wednesday, May 27th. SFL’s payout ratio is presently 366.67%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SFL. EverSource Wealth Advisors LLC lifted its stake in shares of SFL by 789.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,317 shares of the shipping company’s stock valued at $28,000 after acquiring an additional 2,944 shares during the last quarter. Triumph Capital Management bought a new position in SFL during the 3rd quarter worth approximately $32,000. NFSG Corp increased its stake in SFL by 50.0% in the 1st quarter. NFSG Corp now owns 4,500 shares of the shipping company’s stock worth $49,000 after purchasing an additional 1,500 shares during the period. Signaturefd LLC increased its stake in SFL by 30.5% in the 4th quarter. Signaturefd LLC now owns 6,008 shares of the shipping company’s stock worth $47,000 after purchasing an additional 1,405 shares during the period. Finally, Kemnay Advisory Services Inc. bought a new stake in SFL in the fourth quarter valued at approximately $47,000. 28.59% of the stock is owned by institutional investors.

SFL Company Profile

Ship Finance International Limited (NYSE: SFL) is an independent owner of modern, large-size ocean-going vessels that provides finance and leasing services to the global shipping industry. The company’s fleet encompasses a diversified mix of crude oil tankers, product and chemical tankers, liquefied natural gas (LNG) carriers, dry bulk carriers, container vessels and floating production storage and offloading (FPSO) units. By structuring long-term charter agreements and bareboat leases with major oil companies, commodity traders and offshore operators, Ship Finance International seeks to deliver stable cash flows and risk-adjusted returns for its shareholders.

In its core business, Ship Finance International acquires or finances vessels through forward sales agreements and then charters them out under fixed-rate contracts, typically ranging from five to 20 years in duration.