SFL (NYSE:SFL) Reaches New 52-Week Low at $8.43

SFL Co. Ltd. (NYSE:SFL – Get Rating)’s stock price reached a new 52-week low on Monday . The stock traded as low as $8.43 and last traded at $8.47, with a volume of 204305 shares traded. The stock had previously closed at $8.71.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. TheStreet downgraded shares of SFL from a “b” rating to a “c” rating in a research note on Monday. StockNews.com assumed coverage on shares of SFL in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. DNB Markets downgraded shares of SFL from a “buy” rating to a “hold” rating in a research note on Tuesday, February 14th. Finally, B. Riley lifted their target price on shares of SFL from $11.50 to $12.00 and gave the stock a “neutral” rating in a research note on Thursday, February 16th.

SFL Stock Down 1.3 %

The company has a debt-to-equity ratio of 1.56, a current ratio of 0.28 and a quick ratio of 0.27. The business’s 50 day simple moving average is $9.22 and its 200 day simple moving average is $9.67. The company has a market capitalization of $1.17 billion, a PE ratio of 6.68 and a beta of 0.77.

SFL (NYSE:SFL – Get Rating) last issued its earnings results on Wednesday, February 15th. The shipping company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). SFL had a return on equity of 14.48% and a net margin of 30.25%. The firm had revenue of $197.82 million for the quarter, compared to analysts’ expectations of $163.86 million.

SFL Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 16th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 11.32%. The ex-dividend date of this dividend is Thursday, June 15th. SFL’s dividend payout ratio is presently 75.59%.

Institutional Investors Weigh In On SFL

A number of institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in shares of SFL by 13.2% during the first quarter. Dimensional Fund Advisors LP now owns 7,446,582 shares of the shipping company’s stock valued at $70,741,000 after acquiring an additional 868,813 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of SFL by 102.6% during the first quarter. Bank of New York Mellon Corp now owns 3,926,225 shares of the shipping company’s stock valued at $37,299,000 after acquiring an additional 1,988,546 shares during the last quarter. LSV Asset Management increased its position in shares of SFL by 140.9% during the fourth quarter. LSV Asset Management now owns 2,459,028 shares of the shipping company’s stock valued at $22,672,000 after acquiring an additional 1,438,253 shares during the last quarter. FMR LLC increased its position in shares of SFL by 36.0% during the second quarter. FMR LLC now owns 2,148,989 shares of the shipping company’s stock valued at $20,394,000 after acquiring an additional 568,675 shares during the last quarter. Finally, State Street Corp increased its position in shares of SFL by 12.9% during the first quarter. State Street Corp now owns 2,121,955 shares of the shipping company’s stock valued at $20,159,000 after acquiring an additional 242,127 shares during the last quarter. 31.18% of the stock is currently owned by institutional investors and hedge funds.

SFL Company Profile

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SFL Corp. Ltd. engages in the ownership and operation of vessels and offshore related assets. It is also involved in the charter, purchase, and sale of assets. The firm operates through subsidiaries located in Bermuda, Cyprus, Malta, Liberia, Norway, the United Kingdom, and the Marshall Islands. The company was founded on October 10, 2003 and is headquartered in Hamilton, Bermuda.