SFL (NYSE:SFL) Stock Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• SFL shares crossed above their 200-day moving average, trading as high as $10.92 and last at $10.8250 versus the 200‑day MA of $8.73 on volume of about 1.08 million shares.
• Analysts have moved to warmer views recently—Weiss and Wall Street Zen upgraded from sell to hold and BTIG raised its price target to $12 with a buy; the consensus rating is a Moderate Buy with a $12 target.
• Fundamentals are mixed: the company reported a (-$0.04) EPS with revenue down 23.1% year‑over‑year and a debt/equity of 2.04, but it pays a quarterly dividend of $0.20, implying an annualized yield of about 7.4%.

SFL Corporation Ltd. (NYSE:SFL - Get Free Report) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.73 and traded as high as $10.92. SFL shares last traded at $10.8250, with a volume of 1,082,863 shares changing hands.

Analysts Set New Price Targets

Several research firms have weighed in on SFL. Weiss Ratings raised shares of SFL from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, February 2nd. Wall Street Zen raised shares of SFL from a "sell" rating to a "hold" rating in a research note on Saturday, March 28th. Finally, 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 research note on Wednesday, February 11th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $12.00.

SFL Price Performance

The firm has a market cap of $1.57 billion, a price-to-earnings ratio of -54.13 and a beta of 0.39. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.35 and a current ratio of 0.36. The business has a 50 day simple moving average of $10.41 and a 200-day simple moving average of $8.73.

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 (EPS) for the quarter. The company had revenue of $175.51 million for the quarter, compared to analyst estimates of $168.36 million. SFL had a negative net margin of 3.61% and a negative return on equity of 0.30%. SFL's revenue for the quarter was down 23.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 EPS.

SFL Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 30th. Shareholders 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 dividend on an annualized basis and a yield of 7.4%. SFL's payout ratio is -400.00%.

Hedge Funds Weigh In On SFL

A number of hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. boosted its stake in SFL by 4.8% during the 4th quarter. Russell Investments Group Ltd. now owns 29,778 shares of the shipping company's stock valued at $233,000 after purchasing an additional 1,353 shares during the last quarter. Novak & Powell Financial Services Inc. grew its position in SFL by 3.2% in the 3rd quarter. Novak & Powell Financial Services Inc. now owns 44,009 shares of the shipping company's stock worth $331,000 after purchasing an additional 1,373 shares in the last quarter. Signaturefd LLC increased its stake in SFL by 30.5% in the 4th quarter. Signaturefd LLC now owns 6,008 shares of the shipping company's stock valued at $47,000 after buying an additional 1,405 shares during the last quarter. ProShare Advisors LLC increased its stake in SFL by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 22,171 shares of the shipping company's stock valued at $173,000 after buying an additional 1,424 shares during the last quarter. Finally, Brighton Jones LLC lifted its position in shares of SFL by 8.2% during the 4th quarter. Brighton Jones LLC now owns 19,395 shares of the shipping company's stock worth $198,000 after buying an additional 1,474 shares in the last quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.