SFL (NYSE:SFL) Sets New 1-Year High - Here's What Happened

Key Points

• Shares of SFL hit a new 52-week high of $11.36 (last $11.305) and were trading up about 2.1%, with a MarketBeat consensus rating of Moderate Buy and a $12.00 target.
• In the latest quarter SFL reported a loss of $0.04 EPS on revenue of $175.51 million, which beat estimates but was down 23.1% year‑over‑year, leaving margins and return on equity negative.
• The company paid a quarterly dividend of $0.20 (annualized $0.80) for a 7.0% yield, although the dividend payout ratio is a negative -400%, suggesting the payout may not be supported by current earnings.

Shares of SFL Corporation Ltd. (NYSE:SFL - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $11.36 and last traded at $11.3050, with a volume of 281640 shares traded. The stock had previously closed at $11.17.

Analyst Ratings Changes

SFL has been the subject of several research reports. Weiss Ratings raised shares of SFL from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, February 2nd. BTIG Research boosted their target price on SFL from $11.00 to $12.00 and gave the company a "buy" rating in a research note on Wednesday, February 11th. Finally, Wall Street Zen cut SFL from a "hold" rating to a "sell" rating in a research note on Saturday. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.00.

SFL Trading Up 2.1%

The company has a current ratio of 0.36, a quick ratio of 0.35 and a debt-to-equity ratio of 2.04. The firm has a market capitalization of $1.65 billion, a P/E ratio of -57.13 and a beta of 0.39. The firm has a 50-day moving average of $10.73 and a two-hundred day moving average of $9.01.

SFL (NYSE:SFL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The shipping company reported ($0.04) earnings per share for the quarter. The business had revenue of $175.51 million for the quarter, compared to the consensus estimate of $168.36 million. SFL had a negative return on equity of 0.30% and a negative net margin of 3.61%.SFL's quarterly revenue was down 23.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.15 earnings per share.

SFL Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Thursday, March 12th were given a $0.20 dividend. The ex-dividend date was Thursday, March 12th. This represents a $0.80 annualized dividend and a yield of 7.0%. SFL's dividend payout ratio (DPR) is currently -400.00%.

Hedge Funds Weigh In On SFL

Several large investors have recently bought and sold shares of SFL. Brighton Jones LLC raised its position in shares of SFL by 8.2% during the fourth quarter. Brighton Jones LLC now owns 19,395 shares of the shipping company's stock worth $198,000 after acquiring an additional 1,474 shares during the last quarter. AQR Capital Management LLC boosted its stake in SFL by 52.8% during the first quarter. AQR Capital Management LLC now owns 21,060 shares of the shipping company's stock worth $173,000 after acquiring an additional 7,273 shares in the last quarter. Jane Street Group LLC boosted its stake in SFL by 122.0% during the first quarter. Jane Street Group LLC now owns 181,556 shares of the shipping company's stock worth $1,489,000 after acquiring an additional 99,767 shares in the last quarter. Cetera Investment Advisers boosted its stake in SFL by 10.4% during the second quarter. Cetera Investment Advisers now owns 16,034 shares of the shipping company's stock worth $134,000 after acquiring an additional 1,510 shares in the last quarter. Finally, Prudential Financial Inc. bought a new position in SFL during the second quarter worth $139,000. 28.59% of the stock is currently owned by institutional investors.

SFL Company Profile

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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