SFL (NYSE:SFL) Hits New 1-Year Low – What’s Next?

Shares of SFL Co. Ltd. (NYSE:SFL) hit a new 52-week low during trading on Friday . The stock traded as low as $9.64 and last traded at $9.83, with a volume of 157182 shares traded. The stock had previously closed at $9.72.

Analyst Ratings Changes

Separately, Fearnley Fonds raised shares of SFL from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st.

SFL Stock Up 0.5 %

The company has a market capitalization of $1.35 billion, a PE ratio of 8.80 and a beta of 0.67. The stock’s 50 day moving average is $10.62 and its 200 day moving average is $11.73. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.50 and a current ratio of 0.50.

SFL (NYSE:SFL) last announced its quarterly earnings results on Wednesday, November 6th. The shipping company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). The company had revenue of $255.30 million for the quarter, compared to the consensus estimate of $243.98 million. SFL had a net margin of 16.03% and a return on equity of 14.61%. The company’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 earnings per share.

SFL Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.08 annualized dividend and a dividend yield of 11.05%. SFL’s payout ratio is currently 97.30%.

Institutional Trading of SFL

Institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC raised its stake in SFL by 8.8% in the second quarter. Renaissance Technologies LLC now owns 1,276,865 shares of the shipping company’s stock valued at $17,723,000 after purchasing an additional 103,600 shares in the last quarter. Acadian Asset Management LLC grew its position in SFL by 151.8% in the second quarter. Acadian Asset Management LLC now owns 321,211 shares of the shipping company’s stock worth $4,449,000 after acquiring an additional 193,648 shares in the last quarter. American Century Companies Inc. raised its position in SFL by 19.8% during the second quarter. American Century Companies Inc. now owns 2,803,656 shares of the shipping company’s stock valued at $38,915,000 after purchasing an additional 462,789 shares in the last quarter. Edgestream Partners L.P. bought a new stake in SFL during the second quarter worth about $1,139,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of SFL by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,995,617 shares of the shipping company’s stock worth $124,859,000 after purchasing an additional 64,875 shares in the last quarter. Hedge funds and other institutional investors own 28.59% of the company’s stock.

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.