SFL (NYSE:SFL) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

SFL Corporation Ltd. (NYSE:SFL)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.42 and traded as high as $10.36. SFL shares last traded at $10.2150, with a volume of 1,208,242 shares.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Wall Street Zen downgraded shares of SFL from a “hold” rating to a “sell” rating in a report on Saturday, February 14th. Weiss Ratings upgraded shares of SFL from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, February 2nd. Finally, BTIG Research increased their target price on shares of SFL from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.00.

SFL Price Performance

The company has a current ratio of 0.36, a quick ratio of 0.42 and a debt-to-equity ratio of 2.04. The stock has a market cap of $1.49 billion, a PE ratio of -51.08 and a beta of 0.41. The business has a 50-day moving average price of $9.63 and a 200 day moving average price of $8.42.

SFL (NYSE:SFL) last announced its quarterly earnings data on Wednesday, February 11th. The shipping company reported ($0.04) earnings per share for the quarter. SFL had a negative return on equity of 0.30% and a negative net margin of 3.61%.The firm had revenue of $175.51 million during the quarter, compared to analysts’ expectations of $168.36 million. During the same period last year, the business posted $0.15 EPS. The company’s revenue was down 23.1% compared to the same quarter last year.

SFL Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Thursday, March 12th will be paid a $0.20 dividend. The ex-dividend date is Thursday, March 12th. This represents a $0.80 annualized dividend and a dividend yield of 7.8%. SFL’s dividend payout ratio (DPR) is presently -400.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. American Century Companies Inc. boosted its position in shares of SFL by 27.2% in the second quarter. American Century Companies Inc. now owns 3,297,605 shares of the shipping company’s stock valued at $27,469,000 after acquiring an additional 704,710 shares during the period. Fearnley Asset Management AS bought a new stake in SFL during the 4th quarter worth approximately $2,596,000. Trexquant Investment LP bought a new stake in SFL during the 4th quarter worth approximately $2,280,000. Credit Agricole S A purchased a new stake in SFL in the 3rd quarter worth approximately $2,064,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in SFL by 7.2% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,806,744 shares of the shipping company’s stock worth $23,380,000 after purchasing an additional 188,441 shares in the last quarter. 28.59% of the stock is owned by 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.