SFL (NYSE:SFL) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of SFL (NYSE:SFL) from a buy rating to a hold rating in a report published on Saturday.

A number of other research firms have also weighed in on SFL. BTIG Research increased their price objective 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. Weiss Ratings upgraded SFL from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 15th. One 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

SFL Trading Up 1.1%

SFL stock opened at $11.23 on Friday. 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 has a twelve month low of $6.73 and a twelve month high of $12.94. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 46.81 and a beta of 0.44. The firm’s fifty day simple moving average is $11.33 and its two-hundred day simple moving average is $10.51.

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

SFL Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Wednesday, May 27th were paid a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.88 annualized dividend and a yield of 7.8%. This is a boost from SFL’s previous quarterly dividend of $0.20. SFL’s payout ratio is 366.67%.

Institutional Investors Weigh In On SFL

Several large investors have recently added to or reduced their stakes in SFL. EverSource Wealth Advisors LLC increased its position in shares of SFL by 789.3% during the second quarter. EverSource Wealth Advisors LLC now owns 3,317 shares of the shipping company’s stock worth $28,000 after acquiring an additional 2,944 shares during the period. Triumph Capital Management bought a new stake in shares of SFL during the third quarter valued at approximately $32,000. Signaturefd LLC boosted its holdings in shares of SFL by 30.5% in the fourth quarter. Signaturefd LLC now owns 6,008 shares of the shipping company’s stock valued at $47,000 after purchasing an additional 1,405 shares during the period. Kemnay Advisory Services Inc. purchased a new stake in shares of SFL in the fourth quarter valued at approximately $47,000. Finally, Quadrant Capital Group LLC grew its stake in SFL by 122.3% in the fourth quarter. Quadrant Capital Group LLC now owns 6,139 shares of the shipping company’s stock worth $48,000 after purchasing an additional 3,377 shares in the last quarter. 28.59% of the stock is owned by hedge funds and other institutional investors.

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.