SFL Corporation Ltd. (NYSE:SFL) Short Interest Update

SFL Corporation Ltd. (NYSE:SFL) was the target of a significant growth in short interest in April. As of April 15th, there was short interest totaling 4,575,208 shares, a growth of 24.2% from the March 31st total of 3,682,401 shares. Approximately 3.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,246,845 shares, the days-to-cover ratio is presently 3.7 days.

SFL Price Performance

Shares of NYSE SFL traded up $0.06 during midday trading on Friday, hitting $11.59. The stock had a trading volume of 840,414 shares, compared to its average volume of 1,056,772. The company has a quick ratio of 0.35, a current ratio of 0.36 and a debt-to-equity ratio of 2.04. The stock has a 50 day simple moving average of $10.79 and a 200-day simple moving average of $9.07. The company has a market capitalization of $1.67 billion, a PE ratio of -57.93 and a beta of 0.43. SFL has a 1 year low of $6.73 and a 1 year high of $11.60.

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

SFL Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Thursday, March 12th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 6.9%. The ex-dividend date of this dividend was Thursday, March 12th. SFL’s dividend payout ratio (DPR) is currently -400.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SFL. American Century Companies Inc. boosted its holdings in SFL by 16.7% in the 3rd quarter. American Century Companies Inc. now owns 3,847,616 shares of the shipping company’s stock valued at $28,973,000 after purchasing an additional 550,011 shares during the last quarter. Fearnley Asset Management AS purchased a new position in shares of SFL during the fourth quarter worth $2,596,000. Trexquant Investment LP acquired a new position in SFL in the 4th quarter valued at about $2,280,000. Credit Agricole S A acquired a new position in SFL in the 3rd quarter valued at about $2,064,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in SFL by 7.2% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,806,744 shares of the shipping company’s stock worth $23,380,000 after purchasing an additional 188,441 shares during the period. Institutional investors and hedge funds own 28.59% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SFL shares. Weiss Ratings raised SFL from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, February 2nd. BTIG Research boosted their price target on shares of SFL from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Finally, Wall Street Zen cut shares of SFL from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, SFL has an average rating of “Moderate Buy” and an average target price of $12.00.

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.