SFL (NYSE:SFL) Sets New 12-Month Low – What’s Next?

SFL Co. Ltd. (NYSE:SFL) shares hit a new 52-week low during trading on Friday . The company traded as low as $9.91 and last traded at $10.01, with a volume of 116484 shares traded. The stock had previously closed at $9.98.

Analysts Set New Price Targets

A number of research firms have commented on SFL. Pareto Securities upgraded shares of SFL from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Fearnley Fonds upgraded shares of SFL from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st.

SFL Trading Up 0.9 %

The company has a debt-to-equity ratio of 1.93, a current ratio of 0.50 and a quick ratio of 0.50. The stock has a market cap of $1.40 billion, a PE ratio of 9.07 and a beta of 0.67. The stock has a 50-day moving average price of $10.76 and a two-hundred day moving average price of $11.83.

SFL (NYSE:SFL) last released its quarterly earnings results on Wednesday, November 6th. The shipping company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). SFL had a net margin of 16.03% and a return on equity of 14.61%. The firm had revenue of $255.30 million for the quarter, compared to analysts’ expectations of $243.98 million. During the same quarter in the prior year, the business earned $0.23 EPS. The business’s quarterly revenue was up 24.6% compared to the same quarter last year.

SFL Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, December 13th. This represents a $1.08 dividend on an annualized basis and a yield of 10.72%. SFL’s dividend payout ratio (DPR) is presently 97.30%.

Hedge Funds Weigh In On SFL

Several hedge funds have recently added to or reduced their stakes in SFL. International Assets Investment Management LLC boosted its stake in shares of SFL by 1,252.6% during the third quarter. International Assets Investment Management LLC now owns 811,439 shares of the shipping company’s stock valued at $9,388,000 after purchasing an additional 751,449 shares during the period. American Century Companies Inc. lifted its holdings in SFL by 19.8% during the 2nd quarter. American Century Companies Inc. now owns 2,803,656 shares of the shipping company’s stock valued at $38,915,000 after buying an additional 462,789 shares in the last quarter. Acadian Asset Management LLC boosted its position in SFL by 151.8% in the 2nd quarter. Acadian Asset Management LLC now owns 321,211 shares of the shipping company’s stock valued at $4,449,000 after buying an additional 193,648 shares during the period. Barclays PLC grew its stake in SFL by 239.3% in the 3rd quarter. Barclays PLC now owns 168,908 shares of the shipping company’s stock worth $1,954,000 after acquiring an additional 119,131 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of SFL by 8.8% during the second quarter. Renaissance Technologies LLC now owns 1,276,865 shares of the shipping company’s stock worth $17,723,000 after acquiring an additional 103,600 shares during the period. 28.59% of the stock is currently owned by institutional investors.

SFL Company Profile

SFL Corporation Ltd., a maritime and offshore asset owning and chartering company, engages in the ownership, operation, and chartering out of vessels and offshore related assets on medium and long-term charters. The company operates in various sectors of the maritime, and shipping and offshore industries, including oil transportation, dry bulk shipments, chemical transportation, oil products transportation, container transportation, car transportation, and drilling rigs.