Brokerages Expect SFL Co. Ltd. (NYSE:SFL) Will Announce Quarterly Sales of $138.07 Million

Analysts expect SFL Co. Ltd. (NYSE:SFLGet Rating) to post sales of $138.07 million for the current quarter, according to Zacks. Two analysts have made estimates for SFL’s earnings, with the lowest sales estimate coming in at $136.00 million and the highest estimate coming in at $140.13 million. SFL reported sales of $109.13 million during the same quarter last year, which would suggest a positive year over year growth rate of 26.5%. The company is scheduled to announce its next earnings results on Monday, January 1st.

On average, analysts expect that SFL will report full-year sales of $568.83 million for the current year, with estimates ranging from $547.60 million to $590.06 million. For the next year, analysts forecast that the company will report sales of $566.02 million, with estimates ranging from $535.00 million to $597.04 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for SFL.

SFL (NYSE:SFLGet Rating) last posted its earnings results on Wednesday, February 16th. The shipping company reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.05. SFL had a net margin of 32.01% and a return on equity of 12.77%. The company had revenue of $151.10 million for the quarter, compared to analyst estimates of $153.21 million. During the same period last year, the business posted $0.17 earnings per share. The business’s revenue for the quarter was up 31.5% compared to the same quarter last year.

A number of research firms have recently commented on SFL. Jefferies Financial Group upped their price objective on shares of SFL from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, February 17th. TheStreet upgraded shares of SFL from a “c-” rating to a “b” rating in a report on Wednesday, February 16th. StockNews.com initiated coverage on shares of SFL in a report on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research downgraded shares of SFL from a “hold” rating to a “sell” rating in a report on Tuesday, February 22nd. Finally, DNB Markets lowered shares of SFL from a “buy” rating to a “hold” rating in a research report on Friday, February 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, SFL has a consensus rating of “Hold” and a consensus price target of $9.75.

Shares of NYSE:SFL traded up $0.27 during midday trading on Friday, hitting $10.56. The stock had a trading volume of 41,723 shares, compared to its average volume of 997,220. The company’s 50-day moving average price is $9.80 and its 200-day moving average price is $8.84. The company has a market capitalization of $1.46 billion, a P/E ratio of 8.09 and a beta of 0.78. SFL has a fifty-two week low of $6.67 and a fifty-two week high of $10.66. The company has a quick ratio of 0.60, a current ratio of 0.63 and a debt-to-equity ratio of 2.10.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 29th. Stockholders of record on Wednesday, March 16th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 7.58%. The ex-dividend date of this dividend was Tuesday, March 15th. This is a boost from SFL’s previous quarterly dividend of $0.18. SFL’s payout ratio is 61.07%.

Institutional investors have recently made changes to their positions in the stock. Morgan Stanley boosted its stake in SFL by 206.5% in the 2nd quarter. Morgan Stanley now owns 1,337,357 shares of the shipping company’s stock worth $10,231,000 after purchasing an additional 901,063 shares during the period. Parametric Portfolio Associates LLC increased its stake in SFL by 49.9% in the second quarter. Parametric Portfolio Associates LLC now owns 256,030 shares of the shipping company’s stock worth $1,959,000 after purchasing an additional 85,204 shares during the period. International Assets Investment Management LLC increased its stake in SFL by 7.0% in the third quarter. International Assets Investment Management LLC now owns 23,342 shares of the shipping company’s stock worth $196,000 after purchasing an additional 1,527 shares during the period. Sigma Planning Corp purchased a new stake in SFL in the third quarter worth $936,000. Finally, SG Americas Securities LLC purchased a new stake in SFL in the third quarter worth $387,000. Institutional investors own 29.69% of the company’s stock.

About SFL (Get Rating)

SFL Corporation Ltd., a maritime and offshore asset owning and chartering company, engages in the ownership, operation, and chartering out of vessels and offshore related assets on medium and long-term charters. The company is also involved in the charter, purchase, and sale of assets. In addition, it operates in various sectors of the maritime, and shipping and offshore industries, including oil, chemical, oil product, container, and car transportation, as well as dry bulk shipments and drilling rigs.

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