SFL (NYSE:SFL) Trading 8.9% Higher – Still a Buy?

Shares of SFL Corporation Ltd. (NYSE:SFL) rose 8.9% during trading on Wednesday . The stock traded as high as $10.12 and last traded at $9.94. Approximately 1,174,549 shares were traded during trading, a decline of 17% from the average daily volume of 1,419,937 shares. The stock had previously closed at $9.13.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Weiss Ratings raised SFL from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, February 2nd. Wall Street Zen raised shares of SFL from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, BTIG Research boosted their target price on SFL from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

SFL Stock Up 11.0%

The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 1.96. The stock has a market cap of $1.48 billion, a P/E ratio of -1,013.50 and a beta of 0.47. The company’s 50 day moving average price is $8.25 and its two-hundred day moving average price is $8.10.

SFL (NYSE:SFL) last released its quarterly earnings data on Wednesday, February 11th. The shipping company reported ($0.04) EPS for the quarter. SFL had a positive return on equity of 3.05% and a negative net margin of 0.20%.The business’s revenue for the quarter was down 23.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.15 EPS.

Institutional Trading of SFL

A number of hedge funds have recently added to or reduced their stakes in SFL. American Century Companies Inc. raised its position in shares of SFL by 27.2% in the 2nd quarter. American Century Companies Inc. now owns 3,297,605 shares of the shipping company’s stock worth $27,469,000 after acquiring an additional 704,710 shares in the last quarter. Sigma Planning Corp lifted its position in shares of SFL by 89.1% during the second quarter. Sigma Planning Corp now owns 233,577 shares of the shipping company’s stock valued at $1,946,000 after buying an additional 110,042 shares during the last quarter. Everstar Asset Management LLC bought a new stake in shares of SFL in the 2nd quarter valued at about $509,000. Advisors Capital Management LLC boosted its holdings in shares of SFL by 2.8% in the 2nd quarter. Advisors Capital Management LLC now owns 443,337 shares of the shipping company’s stock valued at $3,693,000 after buying an additional 12,061 shares in the last quarter. Finally, Savant Capital LLC purchased a new position in shares of SFL in the 2nd quarter worth approximately $163,000. 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.