SFL (NYSE:SFL) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

SFL Corporation Ltd. (NYSE:SFL) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.18 and traded as high as $10.68. SFL shares last traded at $10.3450, with a volume of 1,526,591 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SFL shares. BTIG Research lifted their price target on shares of SFL from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Weiss Ratings upgraded shares of SFL from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 15th. Finally, Wall Street Zen upgraded shares of SFL from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, SFL currently has an average rating of “Moderate Buy” and an average price target of $14.00.

SFL Price Performance

The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 43.11 and a beta of 0.41. The company has a 50-day simple moving average of $11.47 and a two-hundred day simple moving average of $10.18. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.32 and a current ratio of 0.32.

SFL (NYSE:SFL) last announced its quarterly earnings data on Tuesday, May 12th. The shipping company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.13. The company had revenue of $174.48 million for the quarter, compared to analysts’ expectations of $170.77 million. SFL had a return on equity of 0.26% and a net margin of 4.37%.The business’s revenue was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.24) EPS.

SFL Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Wednesday, May 27th were issued a dividend of $0.22 per share. The ex-dividend date 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 8.5%. SFL’s dividend payout ratio is presently 366.67%.

Institutional Trading of SFL

Large investors have recently added to or reduced their stakes in the company. American Century Companies Inc. grew its position in shares of SFL by 16.7% in the 3rd quarter. American Century Companies Inc. now owns 3,847,616 shares of the shipping company’s stock valued at $28,973,000 after acquiring an additional 550,011 shares during the period. Fearnley Asset Management AS acquired a new position in shares of SFL during the 4th quarter worth about $2,596,000. Trexquant Investment LP acquired a new position in shares of SFL during the 4th quarter worth about $2,280,000. Credit Agricole S A bought a new stake in shares of SFL in the 3rd quarter valued at about $2,064,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of SFL by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,805,291 shares of the shipping company’s stock valued at $95,007,000 after purchasing an additional 244,621 shares during the period. Institutional investors and hedge funds own 28.59% of the company’s stock.

About SFL

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.