SFL Corporation Ltd. (NYSE:SFL) Shareholders to Receive $0.22 Quarterly Dividend

SFL Corporation Ltd. (NYSE:SFL) announced a quarterly dividend on Wednesday, November 4th. Shareholders of record on Tuesday, December 15th will be given a dividend of $0.22 per share by the shipping company on Monday, December 28th. This represents a $0.88 dividend on an annualized basis and a yield of 7.5%. The ex-dividend date is Tuesday, December 15th.

SFL has a dividend payout ratio of 303.4% 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 Trading Down 5.1%

NYSE:SFL traded down $0.63 on Wednesday, hitting $11.70. 2,400,615 shares of the stock were exchanged, compared to its average volume of 1,475,832. The stock has a market cap of $1.69 billion, a PE ratio of 24.38 and a beta of 0.48. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 1.75. The stock has a fifty day moving average of $12.86 and a 200-day moving average of $11.42. SFL has a fifty-two week low of $7.34 and a fifty-two week high of $13.98.

SFL (NYSE:SFL) last released its quarterly earnings data on Wednesday, November 4th. The shipping company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.12. The company had revenue of $201.58 million for the quarter, compared to the consensus estimate of $179.97 million. SFL had a return on equity of 3.41% and a net margin of 8.76%. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the business posted $0.07 EPS.

Analysts Set New Price Targets

SFL has been the subject of a number of research analyst reports. Wall Street Zen raised shares of SFL from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. Weiss Ratings raised shares of SFL from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 27th. BTIG Research reaffirmed a “buy” rating and set a $14.00 price target on shares of SFL in a research report on Wednesday, August 26th. Finally, Benchmark reiterated a “buy” rating on shares of SFL in a research note on Wednesday, August 26th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $14.00.

About SFL

SFL Corporation Ltd. is a maritime and offshore asset-owning company headquartered in Hamilton, Bermuda, and listed on the New York Stock Exchange under the symbol SFL. Formerly known as Ship Finance International Limited, the company was established in 2003 and has developed a diversified portfolio of vessels and offshore assets.

The company primarily acquires, owns and leases assets under long-term charter and lease agreements. Its portfolio has included crude oil and product tankers, dry bulk carriers, container ships, car carriers, offshore drilling units and other specialized maritime assets.