SFL Co. Ltd. (NYSE:SFL) Plans $0.27 Quarterly Dividend

SFL Co. Ltd. (NYSE:SFL) declared a quarterly dividend on Wednesday, August 14th, NASDAQ reports. Shareholders of record on Wednesday, September 11th will be given a dividend of 0.27 per share by the shipping company on Friday, September 27th. This represents a $1.08 annualized dividend and a yield of 9.32%. The ex-dividend date of this dividend is Wednesday, September 11th.

SFL has decreased its dividend by an average of 1.0% annually over the last three years. SFL has a payout ratio of 113.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

SFL Price Performance

NYSE SFL traded up $0.12 during trading hours on Wednesday, reaching $11.59. 1,164,123 shares of the company’s stock were exchanged, compared to its average volume of 841,253. The stock has a market cap of $1.61 billion, a PE ratio of 11.78 and a beta of 0.66. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 1.55. The firm has a fifty day moving average of $12.95 and a 200-day moving average of $13.12. SFL has a one year low of $10.27 and a one year high of $14.62.

SFL (NYSE:SFL) last released its earnings results on Tuesday, May 14th. The shipping company reported $0.37 earnings per share (EPS) for the quarter. The firm had revenue of $229.06 million during the quarter. SFL had a return on equity of 11.47% and a net margin of 15.21%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SFL. BTIG Research raised their target price on shares of SFL from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. StockNews.com upgraded shares of SFL from a “hold” rating to a “buy” rating in a research note on Tuesday, July 16th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, SFL presently has an average rating of “Moderate Buy” and a consensus target price of $12.33.

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.