SFL Co. Ltd. (NYSE:SFL) Declares Quarterly Dividend of $0.27

SFL Co. Ltd. (NYSE:SFL) declared a quarterly dividend on Wednesday, August 14th, NASDAQ reports. Shareholders of record on Wednesday, September 11th will be given a dividend of 0.27 per share by the shipping company on Friday, September 27th. This represents a $1.08 annualized dividend and a yield of 9.32%. The ex-dividend date is Wednesday, September 11th.

SFL has decreased its dividend payment by an average of 1.0% annually over the last three years. SFL has a dividend payout ratio of 113.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

SFL Stock Up 1.0 %

Shares of NYSE SFL opened at $11.59 on Thursday. The company has a market capitalization of $1.61 billion, a P/E ratio of 11.94 and a beta of 0.66. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.29 and a quick ratio of 0.29. The company has a 50 day simple moving average of $12.90 and a 200-day simple moving average of $13.10. SFL has a 1 year low of $10.27 and a 1 year high of $14.62.

SFL (NYSE:SFL) last issued its quarterly earnings data on Wednesday, August 14th. The shipping company reported $0.16 earnings per share for the quarter. SFL had a return on equity of 11.47% and a net margin of 15.21%. The company had revenue of $190.90 million during the quarter, compared to analyst estimates of $184.17 million. During the same period in the prior year, the business posted $0.13 earnings per share. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. BTIG Research boosted their target price on SFL from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. StockNews.com raised SFL from a “hold” rating to a “buy” rating in a research note on Tuesday, July 16th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.33.

SFL Company Profile

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 operates in various sectors of the maritime, and shipping and offshore industries, including oil transportation, dry bulk shipments, chemical transportation, oil products transportation, container transportation, car transportation, and drilling rigs.