SFL (NYSE:SFL) Stock Crosses Above 50 Day Moving Average - Should You Sell?

Key Points

• SFL shares rose above their 50-day moving average, trading as high as $13.20 and recently at $13.182, up 3.1%. The stock’s 200-day moving average was $11.36.
• Analysts maintain a generally positive outlook, with two Buy ratings and one Hold rating, resulting in a “Moderate Buy” consensus and an average price target of $14.00.
• SFL reported stronger-than-expected quarterly results, earning $0.25 per share on $200.77 million in revenue, while maintaining a quarterly dividend of $0.22 per share, equivalent to a 6.7% annualized yield.

Shares of SFL Corporation Ltd. (NYSE:SFL - Get Free Report) passed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $12.85 and traded as high as $13.20. SFL shares last traded at $13.1820, with a volume of 1,257,656 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SFL. BTIG Research reaffirmed a "buy" rating and set a $14.00 price objective on shares of SFL in a research report on Wednesday, August 26th. Wall Street Zen upgraded SFL from a "hold" rating to a "buy" rating in a report on Saturday, August 22nd. Weiss Ratings raised SFL from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, August 27th. Finally, Benchmark restated a "buy" rating on shares of SFL in a report on Wednesday, August 26th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $14.00.

SFL Stock Up 3.1%

The business's 50 day moving average is $12.85 and its 200-day moving average is $11.36. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.38 and a quick ratio of 0.38. The company has a market cap of $1.91 billion, a PE ratio of 27.46 and a beta of 0.43.

SFL (NYSE:SFL - Get Free Report) last issued its earnings results on Wednesday, August 26th. The shipping company reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.11. The firm had revenue of $200.77 million during the quarter, compared to the consensus estimate of $179.65 million. SFL had a net margin of 8.76% and a return on equity of 3.41%. The company's revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.01 earnings per share.

SFL Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Wednesday, September 9th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 6.7%. The ex-dividend date of this dividend was Wednesday, September 9th. SFL's dividend payout ratio (DPR) is 183.33%.

Institutional Investors Weigh In On SFL

Institutional investors have recently added to or reduced their stakes in the business. MGO One Seven LLC boosted its holdings in shares of SFL by 4.4% in the 3rd quarter. MGO One Seven LLC now owns 27,253 shares of the shipping company's stock valued at $359,000 after buying an additional 1,144 shares in the last quarter. Left Brain Wealth Management LLC grew its position in shares of SFL by 9.3% in the 3rd quarter. Left Brain Wealth Management LLC now owns 42,485 shares of the shipping company's stock valued at $559,000 after buying an additional 3,611 shares during the last quarter. State of Wyoming purchased a new position in shares of SFL in the 3rd quarter valued at $151,000. Sterling Capital Management LLC raised its stake in SFL by 3,153.5% during the 3rd quarter. Sterling Capital Management LLC now owns 21,603 shares of the shipping company's stock worth $284,000 after acquiring an additional 20,939 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in SFL by 4,388.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 33,754 shares of the shipping company's stock worth $444,000 after acquiring an additional 33,002 shares in the last quarter. Hedge funds and other institutional investors own 28.59% of the company's stock.

SFL Company Profile

SFL Corporation Ltd. is a maritime and offshore asset-owning company headquartered in Hamilton, Bermuda, and listed on the New York Stock Exchange under the symbol SFL. Formerly known as Ship Finance International Limited, the company was established in 2003 and has developed a diversified portfolio of vessels and offshore assets.

The company primarily acquires, owns and leases assets under long-term charter and lease agreements. Its portfolio has included crude oil and product tankers, dry bulk carriers, container ships, car carriers, offshore drilling units and other specialized maritime assets.

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