SFL (NYSE:SFL) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

SFL Corporation Ltd. (NYSE:SFL) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.42 and traded as high as $10.36. SFL shares last traded at $10.2150, with a volume of 1,208,242 shares.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SFL shares. Weiss Ratings raised shares of SFL from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, February 2nd. Wall Street Zen lowered SFL from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. Finally, BTIG Research boosted their price objective on SFL from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.00.

SFL Stock Up 0.8%

The company has a market cap of $1.49 billion, a price-to-earnings ratio of -51.08 and a beta of 0.41. The stock’s 50-day moving average is $9.63 and its 200-day moving average is $8.42. The company has a current ratio of 0.36, a quick ratio of 0.42 and a debt-to-equity ratio of 2.04.

SFL (NYSE:SFL) last posted its quarterly earnings results on Wednesday, February 11th. The shipping company reported ($0.04) earnings per share for the quarter. The firm had revenue of $175.51 million for the quarter, compared to analyst estimates of $168.36 million. SFL had a negative return on equity of 0.30% and a negative net margin of 3.61%.The firm’s quarterly revenue was down 23.1% compared to the same quarter last year. During the same period last year, the company posted $0.15 earnings per share.

SFL Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Thursday, March 12th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 7.8%. The ex-dividend date is Thursday, March 12th. SFL’s dividend payout ratio is currently -400.00%.

Hedge Funds Weigh In On SFL

A number of hedge funds have recently bought and sold shares of the company. Corient Private Wealth LLC bought a new position in shares of SFL during the 4th quarter worth approximately $121,000. Fearnley Asset Management AS purchased a new position in SFL in the fourth quarter worth $2,596,000. Mercer Global Advisors Inc. ADV purchased a new position in SFL in the fourth quarter worth $144,000. Empowered Funds LLC grew its stake in SFL by 15.1% in the 4th quarter. Empowered Funds LLC now owns 660,013 shares of the shipping company’s stock valued at $5,155,000 after purchasing an additional 86,339 shares during the period. Finally, Voloridge Investment Management LLC increased its position in shares of SFL by 25.0% during the 4th quarter. Voloridge Investment Management LLC now owns 295,668 shares of the shipping company’s stock valued at $2,309,000 after purchasing an additional 59,141 shares during the last quarter. 28.59% of the stock is 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.