SFL (NYSE:SFL) Announces Earnings Results

Key Points

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SFL (NYSE:SFL - Get Free Report) announced its quarterly earnings results on Tuesday. The shipping company reported $0.01 earnings per share (EPS) for the quarter, Briefing.com reports. The company had revenue of $192.59 million during the quarter, compared to the consensus estimate of $192.40 million. SFL had a net margin of 3.97% and a return on equity of 6.67%. The company's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.16 earnings per share.

SFL Price Performance

Shares of NYSE:SFL traded up $0.0950 during trading on Friday, hitting $8.2950. 1,705,191 shares of the company were exchanged, compared to its average volume of 1,656,287. The business's 50 day moving average is $8.93 and its 200-day moving average is $8.68. The company has a market capitalization of $1.21 billion, a P/E ratio of 31.90 and a beta of 0.56. The company has a quick ratio of 0.45, a current ratio of 0.30 and a debt-to-equity ratio of 1.97. SFL has a 1-year low of $6.78 and a 1-year high of $11.93.

SFL Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, September 12th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, September 12th. This represents a $0.80 annualized dividend and a dividend yield of 9.6%. SFL's dividend payout ratio is 415.38%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SFL. EverSource Wealth Advisors LLC grew its stake in shares of SFL by 789.3% in the second quarter. EverSource Wealth Advisors LLC now owns 3,317 shares of the shipping company's stock worth $28,000 after purchasing an additional 2,944 shares during the last quarter. Captrust Financial Advisors bought a new stake in shares of SFL in the second quarter worth $134,000. Cetera Investment Advisers grew its stake in shares of SFL by 10.4% in the second quarter. Cetera Investment Advisers now owns 16,034 shares of the shipping company's stock worth $134,000 after purchasing an additional 1,510 shares during the last quarter. Prudential Financial Inc. bought a new stake in shares of SFL in the second quarter worth $139,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of SFL by 324.0% in the second quarter. Tower Research Capital LLC TRC now owns 17,338 shares of the shipping company's stock worth $144,000 after purchasing an additional 13,249 shares during the last quarter. 28.59% of the stock is currently owned by institutional investors and hedge funds.

SFL Company Profile

SFL Corporation Ltd., a maritime and offshore asset owning and chartering company, engages in the ownership, operation, and chartering out of vessels and offshore related assets on medium and long-term charters. The company operates in various sectors of the maritime, and shipping and offshore industries, including oil transportation, dry bulk shipments, chemical transportation, oil products transportation, container transportation, car transportation, and drilling rigs.