SFL (NYSE:SFL) Sets New 1-Year High – Here’s Why

SFL Corporation Ltd. (NYSE:SFL) reached a new 52-week high on Friday . The stock traded as high as $10.44 and last traded at $10.2950, with a volume of 277657 shares trading hands. The stock had previously closed at $10.26.

Wall Street Analysts Forecast Growth

SFL has been the topic of a number of recent analyst reports. Weiss Ratings raised SFL from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, February 2nd. BTIG Research lifted their price target on shares of SFL from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Wall Street Zen upgraded shares of SFL from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.00.

SFL Stock Up 0.8%

The company has a market capitalization of $1.51 billion, a P/E ratio of -1,030.50 and a beta of 0.47. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 1.96. The business’s fifty day moving average price is $8.33 and its 200 day moving average price is $8.13.

SFL (NYSE:SFL) last posted its earnings results on Wednesday, February 11th. The shipping company reported ($0.04) EPS for the quarter. SFL had a positive return on equity of 3.05% and a negative net margin of 0.20%.The company had revenue of $175.51 million for the quarter, compared to the consensus estimate of $168.36 million. During the same quarter last year, the business earned $0.15 EPS. SFL’s quarterly revenue was down 23.1% compared to the same quarter last year.

SFL Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Thursday, March 12th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $0.80 annualized dividend and a dividend yield of 7.7%. SFL’s dividend payout ratio (DPR) is presently -8,000.00%.

Institutional Investors Weigh In On SFL

A number of hedge funds and other institutional investors have recently bought and sold shares of SFL. American Century Companies Inc. grew its holdings in shares of SFL by 27.2% during the second quarter. American Century Companies Inc. now owns 3,297,605 shares of the shipping company’s stock worth $27,469,000 after purchasing an additional 704,710 shares during the last quarter. Credit Agricole S A acquired a new position in SFL during the 3rd quarter worth about $2,064,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in SFL by 7.2% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,806,744 shares of the shipping company’s stock worth $23,380,000 after acquiring an additional 188,441 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of SFL by 16.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,259,801 shares of the shipping company’s stock worth $9,839,000 after purchasing an additional 174,072 shares in the last quarter. Finally, Sigma Planning Corp grew its stake in shares of SFL by 89.1% during the second quarter. Sigma Planning Corp now owns 233,577 shares of the shipping company’s stock valued at $1,946,000 after purchasing an additional 110,042 shares during the last quarter. 28.59% of the stock is owned by institutional investors and hedge funds.

About SFL

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.