Zacks: Brokerages Expect SFL Co. Ltd. (NYSE:SFL) Will Announce Quarterly Sales of $124.72 Million

Wall Street analysts expect SFL Co. Ltd. (NYSE:SFL) to report $124.72 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for SFL’s earnings, with the highest sales estimate coming in at $133.28 million and the lowest estimate coming in at $116.15 million. SFL reported sales of $115.77 million in the same quarter last year, which indicates a positive year over year growth rate of 7.7%. The business is scheduled to report its next quarterly earnings results on Friday, November 12th.

On average, analysts expect that SFL will report full-year sales of $480.37 million for the current fiscal year, with estimates ranging from $468.42 million to $492.31 million. For the next fiscal year, analysts forecast that the business will post sales of $507.95 million, with estimates ranging from $485.60 million to $530.29 million. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for SFL.

SFL (NYSE:SFL) last posted its quarterly earnings results on Thursday, August 19th. The shipping company reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.03). The firm had revenue of $116.80 million for the quarter, compared to the consensus estimate of $112.69 million. SFL had a positive return on equity of 9.91% and a negative net margin of 21.52%. The business’s revenue was down 1.4% compared to the same quarter last year. During the same period last year, the company posted $0.11 earnings per share.

A number of equities research analysts recently issued reports on the company. Jefferies Financial Group upgraded SFL from a “hold” rating to a “buy” rating and set a $9.00 price objective on the stock in a research report on Thursday, August 19th. DNB Markets upgraded shares of SFL from a “hold” rating to a “buy” rating in a research note on Thursday, August 19th. Finally, Zacks Investment Research downgraded shares of SFL from a “buy” rating to a “hold” rating in a report on Tuesday, August 24th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, SFL currently has an average rating of “Buy” and a consensus target price of $9.17.

SFL stock opened at $7.65 on Tuesday. SFL has a 1 year low of $5.85 and a 1 year high of $9.05. The stock has a market capitalization of $980.16 million, a PE ratio of -8.32 and a beta of 1.08. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.08 and a quick ratio of 1.06. The company’s 50-day moving average is $7.50 and its 200-day moving average is $7.91.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 29th. Shareholders of record on Wednesday, September 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 7.84%. The ex-dividend date of this dividend is Tuesday, September 14th. SFL’s payout ratio is currently 68.18%.

A number of institutional investors have recently modified their holdings of the business. Millennium Management LLC acquired a new stake in SFL in the 2nd quarter worth approximately $10,380,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of SFL in the first quarter valued at about $8,904,000. Morgan Stanley boosted its holdings in shares of SFL by 206.5% during the second quarter. Morgan Stanley now owns 1,337,357 shares of the shipping company’s stock worth $10,231,000 after acquiring an additional 901,063 shares during the period. FMR LLC raised its position in SFL by 489.6% during the second quarter. FMR LLC now owns 1,077,174 shares of the shipping company’s stock valued at $8,240,000 after purchasing an additional 894,485 shares in the last quarter. Finally, NFJ Investment Group LLC acquired a new position in shares of SFL in the first quarter worth approximately $4,191,000. Hedge funds and other institutional investors own 30.17% of the company’s stock.

SFL Company Profile

SFL Corp. Ltd. engages in the ownership and operation of vessels and offshore related assets. It also involves in the charter, purchase, and sale of assets. It operate through subsidiaries located in Bermuda, Cyprus, Malta, Liberia, Norway, the United Kingdom, and the Marshall Islands. The company was founded on October 10, 2003 and is headquartered in Hamilton, Bermuda.

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Earnings History and Estimates for SFL (NYSE:SFL)

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