SFL (NYSE:SFL) Sees Large Volume Increase - Still a Buy?

SFL Co. Ltd. (NYSE:SFL - Get Free Report) shares saw strong trading volume on Wednesday . 1,612,832 shares changed hands during mid-day trading, an increase of 51% from the previous session's volume of 1,069,285 shares.The stock last traded at $8.88 and had previously closed at $8.78.

Analyst Ratings Changes

Separately, Wall Street Zen lowered SFL from a "hold" rating to a "sell" rating in a research note on Thursday, February 13th.

SFL Stock Down 3.7%

The company has a debt-to-equity ratio of 1.91, a current ratio of 0.38 and a quick ratio of 0.50. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 8.51 and a beta of 0.51. The firm's 50-day moving average is $8.22 and its 200 day moving average is $9.24.

SFL (NYSE:SFL - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The shipping company reported $0.03 EPS for the quarter, topping analysts' consensus estimates of ($0.01) by $0.04. The business had revenue of $186.74 million during the quarter, compared to the consensus estimate of $183.82 million. SFL had a return on equity of 12.41% and a net margin of 14.45%. The business's revenue for the quarter was down 18.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 EPS.

SFL Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Thursday, June 12th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 12.57%. The ex-dividend date is Thursday, June 12th. SFL's dividend payout ratio is currently 263.41%.

Institutional Trading of SFL

Institutional investors have recently modified their holdings of the company. Rhumbline Advisers lifted its position in SFL by 5.0% during the first quarter. Rhumbline Advisers now owns 225,991 shares of the shipping company's stock valued at $1,853,000 after buying an additional 10,756 shares in the last quarter. Advisors Capital Management LLC raised its stake in shares of SFL by 4.2% in the 1st quarter. Advisors Capital Management LLC now owns 431,276 shares of the shipping company's stock valued at $3,536,000 after acquiring an additional 17,300 shares during the period. Jane Street Group LLC lifted its holdings in shares of SFL by 122.0% during the 1st quarter. Jane Street Group LLC now owns 181,556 shares of the shipping company's stock valued at $1,489,000 after acquiring an additional 99,767 shares in the last quarter. Empowered Funds LLC boosted its position in SFL by 2.0% during the 1st quarter. Empowered Funds LLC now owns 752,960 shares of the shipping company's stock worth $6,174,000 after purchasing an additional 15,109 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in SFL in the 1st quarter valued at $440,000. Hedge funds and other institutional investors own 28.59% of the company's stock.

About SFL

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.