SFL (NYSE:SFL) Stock Price Passes Above 200-Day Moving Average - Here's What Happened

Key Points

• SFL shares moved above their 200-day moving average, reaching $12.56 and last trading around $12.46, compared with the $11.31 200-day average.
• Analyst sentiment is generally positive: SFL has a “Moderate Buy” consensus rating and a $14.00 average price target, with recent firms reaffirming or initiating Buy ratings.
• SFL beat quarterly expectations, reporting $0.25 in earnings per share versus the $0.14 consensus and $200.77 million in revenue. The company also declared a $0.22 quarterly dividend, equivalent to a 7.1% annualized yield.

SFL Corporation Ltd. (NYSE:SFL - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.31 and traded as high as $12.56. SFL shares last traded at $12.4630, with a volume of 1,554,854 shares trading hands.

Analyst Upgrades and Downgrades

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

SFL Stock Performance

The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 1.75. The stock has a fifty day moving average price of $11.68 and a 200-day moving average price of $11.31. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 25.97 and a beta of 0.40.

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

SFL Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Wednesday, September 9th will be given a dividend of $0.22 per share. The ex-dividend date is Wednesday, September 9th. This represents a $0.88 dividend on an annualized basis and a yield of 7.1%. SFL's dividend payout ratio is presently 183.33%.

Institutional Trading of SFL

Several hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its stake in shares of SFL by 789.3% during the second quarter. EverSource Wealth Advisors LLC now owns 3,317 shares of the shipping company's stock worth $28,000 after acquiring an additional 2,944 shares during the period. Triumph Capital Management acquired a new stake in SFL in the third quarter valued at about $32,000. Kemnay Advisory Services Inc. acquired a new stake in SFL in the fourth quarter valued at about $47,000. Quadrant Capital Group LLC boosted its holdings in SFL by 122.3% in the 4th quarter. Quadrant Capital Group LLC now owns 6,139 shares of the shipping company's stock valued at $48,000 after purchasing an additional 3,377 shares in the last quarter. Finally, NFSG Corp boosted its holdings in SFL by 50.0% in the 1st quarter. NFSG Corp now owns 4,500 shares of the shipping company's stock valued at $49,000 after purchasing an additional 1,500 shares in the last quarter. Hedge funds and other institutional investors own 28.59% of the company's stock.

About SFL

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.

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