SFL (NYSE:SFL) Sets New 12-Month High – Here’s Why

SFL Corporation Ltd. (NYSE:SFL) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $12.95 and last traded at $12.9930, with a volume of 229166 shares changing hands. The stock had previously closed at $12.68.

Analyst Ratings Changes

Several brokerages have recently commented on SFL. Wall Street Zen raised shares of SFL from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. Benchmark reiterated a “buy” rating on shares of SFL in a research report on Wednesday, August 26th. BTIG Research reissued a “buy” rating and set a $14.00 target price on shares of SFL in a research note on Wednesday, August 26th. Finally, Weiss Ratings upgraded shares of SFL from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 27th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $14.00.

SFL Trading Up 1.5%

The business has a 50 day moving average of $11.95 and a two-hundred day moving average of $11.41. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 26.85 and a beta of 0.40. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.38 and a current ratio of 0.38.

SFL (NYSE:SFL) last posted its quarterly earnings results on Wednesday, August 26th. The shipping company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.11. The business had revenue of $200.77 million during the quarter, compared to the consensus estimate of $179.65 million. SFL had a net margin of 8.76% and a return on equity of 3.41%. SFL’s revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.01 EPS.

SFL Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Wednesday, September 9th will be paid a $0.22 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $0.88 annualized dividend and a yield of 6.8%. SFL’s dividend payout ratio (DPR) is 183.33%.

Hedge Funds Weigh In On SFL

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC raised its holdings 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 worth $28,000 after purchasing an additional 2,944 shares during the period. Triumph Capital Management bought a new stake in shares of SFL in the third quarter valued at $32,000. Kemnay Advisory Services Inc. purchased a new position in shares of SFL during the 4th quarter valued at $47,000. Quadrant Capital Group LLC grew its stake in shares of SFL by 122.3% during the 4th quarter. Quadrant Capital Group LLC now owns 6,139 shares of the shipping company’s stock worth $48,000 after acquiring an additional 3,377 shares during the period. Finally, NFSG Corp increased its holdings 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 acquiring an additional 1,500 shares during the last quarter. 28.59% of the stock is owned by hedge funds and other 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.