SFL (NYSE:SFL) Hits New 52-Week High – What’s Next?

SFL Corporation Ltd. (NYSE:SFL) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $11.28 and last traded at $11.2750, with a volume of 1921718 shares. The stock had previously closed at $11.01.

Analysts Set New Price Targets

Several research firms have recently weighed in on SFL. BTIG Research upped 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 raised shares of SFL from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, February 2nd. Finally, Wall Street Zen cut SFL from a “hold” rating to a “sell” rating in a report on Saturday, February 14th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.00.

SFL Stock Up 2.4%

The firm’s 50-day simple moving average is $8.99 and its 200 day simple moving average is $8.24. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.42 and a current ratio of 0.36. The stock has a market capitalization of $1.64 billion, a P/E ratio of -56.38 and a beta of 0.47.

SFL (NYSE:SFL) last released its earnings results on Wednesday, February 11th. The shipping company reported ($0.04) earnings per share (EPS) for the quarter. SFL had a negative net margin of 3.61% and a negative return on equity of 0.30%. The company had revenue of $175.51 million during the quarter, compared to analyst estimates of $168.36 million. During the same period in the prior year, the firm posted $0.15 EPS. SFL’s revenue was down 23.1% compared to the same quarter last year.

SFL Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Thursday, March 12th will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, March 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 7.1%. SFL’s dividend payout ratio is currently -400.00%.

Hedge Funds Weigh In On SFL

Institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its position in shares of SFL by 4.8% in the fourth 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. lifted its holdings in SFL by 3.2% during 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 during the last quarter. Signaturefd LLC boosted 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 purchasing an additional 1,405 shares during the period. ProShare Advisors LLC grew its holdings 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 in the last quarter. Finally, Brighton Jones LLC increased its position in 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 during the period. 28.59% of the stock is currently owned by institutional investors and hedge funds.

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.