SFL (NYSE:SFL) Sets New 52-Week High - Here's What Happened

Key Points

• SFL hit a new 52-week high of $11.62 on Monday (last trade $11.6250) on ~65,110 shares, and analysts have a consensus rating of "Moderate Buy" with an average price target of $12.00 after BTIG raised its target to $12 and rated the stock "buy".
• The company reported Q4 EPS of ($0.04) versus $0.15 a year ago while revenue of $175.51 million beat expectations but was down 23.1% year-over-year, leaving SFL with a negative net margin (-3.61%) and a negative P/E.
• SFL pays a quarterly dividend of $0.20 (annualized $0.80), implying a 6.9% yield

Shares of SFL Corporation Ltd. (NYSE:SFL - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $11.62 and last traded at $11.6250, with a volume of 65110 shares traded. The stock had previously closed at $11.59.

Analyst Ratings Changes

A number of brokerages have weighed in on SFL. BTIG Research lifted their price target on shares of SFL from $11.00 to $12.00 and gave the company a "buy" rating in a report on Wednesday, February 11th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of SFL in a research report on Friday. Finally, Wall Street Zen upgraded SFL from a "sell" rating to a "hold" rating in a report on Sunday. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, SFL currently has a consensus rating of "Moderate Buy" and an average price target of $12.00.

SFL Trading Down 0.0%

The firm has a market cap of $1.67 billion, a price-to-earnings ratio of -57.93 and a beta of 0.42. The company has a quick ratio of 0.35, a current ratio of 0.36 and a debt-to-equity ratio of 2.04. The business has a 50 day moving average price of $10.79 and a 200-day moving average price of $9.10.

SFL (NYSE:SFL - Get Free Report) last released its quarterly earnings results on Wednesday, February 11th. The shipping company reported ($0.04) earnings per share for the quarter. The company had revenue of $175.51 million during the quarter, compared to analysts' expectations of $168.36 million. SFL had a negative return on equity of 0.30% and a negative net margin of 3.61%.The firm's 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 EPS.

SFL Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Thursday, March 12th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, March 12th. This represents a $0.80 annualized dividend and a dividend yield of 6.9%. SFL's dividend payout ratio (DPR) is currently -400.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. American Century Companies Inc. raised its position in shares of SFL by 16.7% in the 3rd quarter. American Century Companies Inc. now owns 3,847,616 shares of the shipping company's stock valued at $28,973,000 after purchasing an additional 550,011 shares in the last quarter. Fearnley Asset Management AS bought a new stake in shares of SFL in the fourth quarter worth $2,596,000. Trexquant Investment LP acquired a new stake in SFL in the fourth quarter valued at $2,280,000. Credit Agricole S A acquired a new stake in SFL in the third quarter valued at $2,064,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in SFL by 7.2% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,806,744 shares of the shipping company's stock valued at $23,380,000 after acquiring an additional 188,441 shares during the last quarter. Hedge funds and other institutional investors own 28.59% of the company's stock.

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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