SFL (NYSE:SFL) Shares Cross Above 200 Day Moving Average – Should You Sell?

SFL Corporation Ltd. (NYSE:SFL) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.12 and traded as high as $8.47. SFL shares last traded at $8.23, with a volume of 987,726 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SFL shares. BTIG Research lifted their target price on SFL from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d+)” rating on shares of SFL in a research report on Monday, December 29th. Finally, Wall Street Zen downgraded SFL from a “hold” rating to a “sell” rating in a report on Sunday, December 14th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, SFL presently has an average rating of “Hold” and a consensus target price of $11.00.

SFL Stock Performance

The stock has a market capitalization of $1.20 billion, a PE ratio of -823.00 and a beta of 0.47. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.42 and a current ratio of 0.42. The firm has a 50 day moving average of $8.10 and a 200-day moving average of $8.12.

SFL (NYSE:SFL) last issued its earnings results on Wednesday, November 12th. The shipping company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. The company had revenue of $178.21 million for the quarter, compared to the consensus estimate of $172.45 million. SFL had a positive return on equity of 3.05% and a negative net margin of 0.20%.The firm’s quarterly revenue was down 30.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 EPS.

SFL Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 29th. Shareholders of record on Friday, December 12th were given a $0.20 dividend. The ex-dividend date was Friday, December 12th. This represents a $0.80 dividend on an annualized basis and a yield of 9.7%. SFL’s dividend payout ratio is presently -8,000.00%.

Hedge Funds Weigh In On SFL

Several institutional investors and hedge funds have recently modified their holdings of the stock. Brighton Jones LLC raised its holdings in shares of SFL by 8.2% during the fourth quarter. Brighton Jones LLC now owns 19,395 shares of the shipping company’s stock worth $198,000 after acquiring an additional 1,474 shares in the last quarter. AQR Capital Management LLC increased its position in SFL by 52.8% in the 1st quarter. AQR Capital Management LLC now owns 21,060 shares of the shipping company’s stock worth $173,000 after purchasing an additional 7,273 shares during the last quarter. Jane Street Group LLC raised its stake in shares of SFL by 122.0% during the 1st quarter. Jane Street Group LLC now owns 181,556 shares of the shipping company’s stock worth $1,489,000 after purchasing an additional 99,767 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of SFL during the 2nd quarter valued at about $287,000. Finally, Signaturefd LLC grew its stake in shares of SFL by 65.3% in the 2nd quarter. Signaturefd LLC now owns 3,392 shares of the shipping company’s stock valued at $28,000 after buying an additional 1,340 shares in the last quarter. 28.59% of the stock is currently owned by hedge funds and other 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.