SFL (NYSE:SFL) Stock Passes Above 200-Day Moving Average – Here’s What Happened

SFL Corporation Ltd. (NYSE:SFL)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $9.99 and traded as high as $11.46. SFL shares last traded at $11.42, with a volume of 1,755,736 shares trading hands.

Analyst Ratings Changes

SFL has been the topic of a number of analyst reports. Weiss Ratings upgraded SFL from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 15th. Wall Street Zen upgraded SFL from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Finally, BTIG Research boosted their price objective on SFL from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $14.00.

SFL Stock Performance

The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.32 and a current ratio of 0.32. The company has a market capitalization of $1.65 billion, a P/E ratio of 47.59 and a beta of 0.41. The business has a 50 day moving average of $11.46 and a 200-day moving average of $9.99.

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

SFL Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be paid a $0.22 dividend. The ex-dividend date is Wednesday, May 27th. This represents a $0.88 dividend on an annualized basis and a yield of 7.7%. This is an increase from SFL’s previous quarterly dividend of $0.20. SFL’s dividend payout ratio is currently 366.67%.

Hedge Funds Weigh In On SFL

Institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its stake in SFL by 789.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,317 shares of the shipping company’s stock worth $28,000 after acquiring an additional 2,944 shares during the last quarter. Triumph Capital Management bought a new position in SFL in the 3rd quarter worth about $32,000. NFSG Corp increased its stake in SFL by 50.0% in the 1st quarter. NFSG Corp now owns 4,500 shares of the shipping company’s stock worth $49,000 after acquiring an additional 1,500 shares during the last quarter. Signaturefd LLC increased its stake in SFL by 30.5% in the 4th quarter. Signaturefd LLC now owns 6,008 shares of the shipping company’s stock worth $47,000 after acquiring an additional 1,405 shares during the last quarter. Finally, Kemnay Advisory Services Inc. bought a new position in SFL in the 4th quarter worth about $47,000. 28.59% of the stock is currently 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.