SFL (NYSE:SFL) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

SFL Corporation Ltd. (NYSE:SFL)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $10.46 and traded as high as $11.41. SFL shares last traded at $11.0960, with a volume of 943,398 shares.

Wall Street Analyst Weigh In

SFL has been the subject of a number of recent analyst reports. Weiss Ratings upgraded SFL from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 15th. Wall Street Zen lowered SFL from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, BTIG Research upped their price target on SFL from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, SFL presently has a consensus rating of “Moderate Buy” and an average target price of $14.00.

SFL Trading Down 1.7%

The company’s fifty day simple moving average is $11.35 and its two-hundred day simple moving average is $10.46. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 46.24 and a beta of 0.44. 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 (NYSE:SFL) last announced its quarterly earnings results on Tuesday, May 12th. The shipping company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.13. The company had revenue of $174.48 million during the quarter, compared to analyst estimates of $170.77 million. SFL had a net margin of 4.37% and a return on equity of 0.26%. The firm’s revenue was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.24) EPS.

SFL Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th were paid a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This is a positive change from SFL’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 7.9%. SFL’s payout ratio is presently 366.67%.

Institutional Investors Weigh In On SFL

Hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its position 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 valued at $28,000 after purchasing an additional 2,944 shares during the period. Triumph Capital Management acquired a new stake in SFL during the 3rd quarter worth approximately $32,000. Signaturefd LLC lifted its stake in 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 buying an additional 1,405 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new position in shares of SFL in the fourth quarter valued at approximately $47,000. Finally, Quadrant Capital Group LLC boosted its holdings in shares of SFL by 122.3% in the fourth quarter. Quadrant Capital Group LLC now owns 6,139 shares of the shipping company’s stock valued at $48,000 after buying an additional 3,377 shares during the period. Institutional investors and hedge funds own 28.59% of the company’s stock.

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.