SFL (NYSE:SFL) Stock Price Breaks Above 200-Day Moving Average - Time to Sell?

Key Points

• SFL shares rose above their 200-day moving average, reaching $13.07 and recently trading near $12.97, signaling stronger technical momentum.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $14.00.
• SFL exceeded quarterly earnings and revenue expectations, while offering a $0.22 quarterly dividend equivalent to an annualized yield of about 6.8%; however, its payout ratio is high at 183.33%.

SFL Corporation Ltd. (NYSE:SFL - Get Free Report)'s share price passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $11.57 and traded as high as $13.07. SFL shares last traded at $12.9660, with a volume of 2,334,366 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Wall Street Zen raised shares of SFL from a "hold" rating to a "buy" rating in a report on Saturday, August 22nd. Weiss Ratings raised shares of SFL from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, August 27th. Benchmark restated a "buy" rating on shares of SFL in a research note on Wednesday, August 26th. Finally, BTIG Research reaffirmed a "buy" rating and issued a $14.00 price objective 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 assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $14.00.

SFL Stock Up 1.9%

The stock has a fifty day simple moving average of $12.39 and a two-hundred day simple moving average of $11.57. The firm has a market cap of $1.87 billion, a PE ratio of 27.01 and a beta of 0.40. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 1.75.

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

SFL Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Wednesday, September 9th were paid a $0.22 dividend. The ex-dividend date was Wednesday, September 9th. This represents a $0.88 annualized dividend and a yield of 6.8%. SFL's dividend payout ratio is currently 183.33%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Burney Co. purchased a new stake in shares of SFL in the first quarter worth $879,000. Renaissance Technologies LLC grew its position in SFL by 25.2% during the first quarter. Renaissance Technologies LLC now owns 437,565 shares of the shipping company's stock worth $4,721,000 after buying an additional 88,100 shares in the last quarter. Dimensional Fund Advisors LP grew its position in SFL by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 8,805,291 shares of the shipping company's stock worth $95,007,000 after buying an additional 244,621 shares in the last quarter. Coppell Advisory Solutions LLC purchased a new position in SFL during the second quarter worth about $456,000. Finally, Public Employees Retirement System of Ohio bought a new position in SFL in the 2nd quarter worth about $424,000. 28.59% of the stock is owned by institutional investors.

About SFL

SFL Corporation Ltd. is a maritime asset owner and chartering company headquartered in Hamilton, Bermuda. The company owns and leases a diversified fleet of vessels and offshore assets to customers under long-term charter and lease arrangements.

SFL's fleet has included crude oil tankers, product and chemical tankers, container ships, dry bulk carriers, car carriers, gas carriers and offshore support assets. Through its leasing and chartering activities, the company provides transportation and marine infrastructure services to energy, industrial and shipping customers worldwide.

The company was established in 2003 as Ship Finance International Limited and later adopted the name SFL Corporation Ltd.

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