SFL (NYSE:SFL) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of SFL (NYSE:SFL) from a sell rating to a hold rating in a research report released on Saturday morning.

SFL has been the topic of a number of other reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of SFL in a research note on Monday, December 29th. BTIG Research increased their price objective on shares of SFL from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, SFL currently has a consensus rating of “Hold” and a consensus target price of $11.00.

SFL Stock Performance

Shares of NYSE SFL opened at $8.89 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 1.96. The firm’s 50-day moving average price is $8.14 and its two-hundred day moving average price is $8.12. SFL has a 52-week low of $6.73 and a 52-week high of $11.13. The stock has a market capitalization of $1.29 billion, a P/E ratio of -888.50 and a beta of 0.47.

SFL (NYSE:SFL) last announced its quarterly earnings results on Wednesday, November 12th. The shipping company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. SFL had a positive return on equity of 3.05% and a negative net margin of 0.20%.The business had revenue of $178.21 million for the quarter, compared to analysts’ expectations of $172.45 million. During the same period in the prior year, the firm earned $0.34 EPS. The business’s quarterly revenue was down 30.2% on a year-over-year basis.

SFL Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 29th. Investors of record on Friday, December 12th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 9.0%. The ex-dividend date was Friday, December 12th. SFL’s dividend payout ratio is currently -8,000.00%.

Institutional Trading of SFL

Institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. raised its position in SFL by 27.2% in the second quarter. American Century Companies Inc. now owns 3,297,605 shares of the shipping company’s stock worth $27,469,000 after acquiring an additional 704,710 shares in the last quarter. Sigma Planning Corp increased its position in shares of SFL by 89.1% in the second quarter. Sigma Planning Corp now owns 233,577 shares of the shipping company’s stock worth $1,946,000 after acquiring an additional 110,042 shares in the last quarter. Everstar Asset Management LLC purchased a new position in SFL during the 2nd quarter worth approximately $509,000. Advisors Capital Management LLC grew its holdings in shares of SFL by 2.8% during the second quarter. Advisors Capital Management LLC now owns 443,337 shares of the shipping company’s stock valued at $3,693,000 after buying an additional 12,061 shares in the last quarter. Finally, Savant Capital LLC acquired a new stake in SFL during the 2nd quarter worth about $163,000. 28.59% of the stock is owned by institutional investors and hedge funds.

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.