SFL (NYSE:SFL) Reaches New 12-Month Low – Here’s What Happened

SFL Co. Ltd. (NYSE:SFL)’s stock price hit a new 52-week low during trading on Friday . The company traded as low as $10.31 and last traded at $10.32, with a volume of 187456 shares. The stock had previously closed at $10.56.

Wall Street Analyst Weigh In

A number of research firms recently commented on SFL. StockNews.com raised SFL from a “hold” rating to a “buy” rating in a research note on Tuesday, July 16th. Pareto Securities upgraded shares of SFL from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th.

SFL Stock Down 2.7 %

The company has a market cap of $1.42 billion, a P/E ratio of 9.51 and a beta of 0.68. The firm’s 50 day moving average price is $11.22 and its two-hundred day moving average price is $12.44. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.34 and a current ratio of 0.34.

SFL (NYSE:SFL) last announced its quarterly earnings results on Wednesday, August 14th. The shipping company reported $0.16 EPS for the quarter. The business had revenue of $190.90 million during the quarter, compared to analyst estimates of $184.17 million. SFL had a net margin of 16.03% and a return on equity of 14.96%. SFL’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.13 EPS.

SFL Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 10.52%. The ex-dividend date of this dividend is Friday, December 13th. SFL’s dividend payout ratio is 97.30%.

Hedge Funds Weigh In On SFL

Hedge funds have recently bought and sold shares of the company. Empowered Funds LLC boosted its stake in SFL by 5.4% in the third quarter. Empowered Funds LLC now owns 701,879 shares of the shipping company’s stock valued at $8,121,000 after acquiring an additional 35,778 shares during the last quarter. Victory Capital Management Inc. boosted its stake in SFL by 11.4% in the third quarter. Victory Capital Management Inc. now owns 20,511 shares of the shipping company’s stock valued at $237,000 after acquiring an additional 2,104 shares during the last quarter. GSA Capital Partners LLP purchased a new position in SFL in the third quarter valued at about $168,000. Farther Finance Advisors LLC boosted its stake in SFL by 1,375.3% in the third quarter. Farther Finance Advisors LLC now owns 4,293 shares of the shipping company’s stock valued at $50,000 after acquiring an additional 4,002 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in SFL by 272.4% in the third quarter. Nisa Investment Advisors LLC now owns 45,990 shares of the shipping company’s stock valued at $532,000 after acquiring an additional 33,640 shares during the last quarter. 28.59% of the stock is owned by hedge funds and other institutional investors.

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.