SFL Co. Ltd. (NYSE:SFL – Get Rating) – Stock analysts at B. Riley lowered their Q2 2022 earnings estimates for SFL in a research report issued on Friday, May 13th. B. Riley analyst L. Burke now forecasts that the shipping company will post earnings per share of $0.18 for the quarter, down from their previous forecast of $0.24. B. Riley also issued estimates for SFL’s Q3 2022 earnings at $0.13 EPS, Q4 2022 earnings at $0.16 EPS, FY2022 earnings at $0.84 EPS and FY2023 earnings at $0.71 EPS.
SFL has been the subject of a number of other research reports. Jefferies Financial Group boosted their target price on SFL from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, February 17th. DNB Markets downgraded SFL from a “buy” rating to a “hold” rating in a research report on Friday, February 18th. TheStreet upgraded SFL from a “c-” rating to a “b” rating in a research report on Wednesday, February 16th. Zacks Investment Research upgraded SFL from a “sell” rating to a “hold” rating in a research report on Wednesday, April 20th. Finally, StockNews.com began coverage on SFL in a report on Thursday, March 31st. They issued a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $9.67.
SFL (NYSE:SFL – Get Rating) last issued its quarterly earnings data on Thursday, May 12th. The shipping company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.11. SFL had a return on equity of 14.67% and a net margin of 32.31%. The firm had revenue of $152.40 million during the quarter, compared to the consensus estimate of $138.71 million. During the same quarter in the previous year, the company posted $0.19 EPS. The business’s revenue for the quarter was up 39.6% compared to the same quarter last year.
A number of large investors have recently bought and sold shares of the business. Legal & General Group Plc grew its stake in SFL by 1.7% in the fourth quarter. Legal & General Group Plc now owns 91,167 shares of the shipping company’s stock valued at $743,000 after acquiring an additional 1,536 shares during the period. Commonwealth Equity Services LLC grew its stake in SFL by 6.2% in the first quarter. Commonwealth Equity Services LLC now owns 26,226 shares of the shipping company’s stock valued at $266,000 after acquiring an additional 1,541 shares during the period. Federated Hermes Inc. grew its stake in SFL by 125.3% in the first quarter. Federated Hermes Inc. now owns 2,854 shares of the shipping company’s stock valued at $29,000 after acquiring an additional 1,587 shares during the period. Newbridge Financial Services Group Inc. grew its stake in SFL by 47.3% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 5,109 shares of the shipping company’s stock valued at $42,000 after acquiring an additional 1,640 shares during the period. Finally, Centiva Capital LP grew its stake in SFL by 13.2% in the third quarter. Centiva Capital LP now owns 15,525 shares of the shipping company’s stock valued at $132,000 after acquiring an additional 1,810 shares during the period. 29.80% of the stock is owned by hedge funds and other institutional investors.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 29th. Investors of record on Wednesday, June 15th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 8.10%. The ex-dividend date of this dividend is Tuesday, June 14th. This is an increase from SFL’s previous quarterly dividend of $0.20. SFL’s dividend payout ratio is currently 56.74%.
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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