SFL (NYSE:SFL) Trading 8.9% Higher – Still a Buy?

Shares of SFL Corporation Ltd. (NYSE:SFL) shot up 8.9% on Wednesday . The stock traded as high as $10.12 and last traded at $9.94. 1,174,549 shares traded hands during mid-day trading, a decline of 17% from the average session volume of 1,419,937 shares. The stock had previously closed at $9.13.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Wall Street Zen upgraded shares of SFL from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. BTIG Research lifted their price target on shares of SFL from $10.00 to $11.00 and gave the company a “buy” rating in a report on Tuesday, November 11th. Finally, Weiss Ratings raised SFL from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, February 2nd. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $11.00.

SFL Stock Performance

The business has a 50-day simple moving average of $8.25 and a 200 day simple moving average of $8.10. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a market cap of $1.48 billion, a PE ratio of -1,013.50 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 for the quarter. SFL had a negative net margin of 0.20% and a positive return on equity of 3.05%. The company’s revenue was down 23.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.15 EPS.

Hedge Funds Weigh In On SFL

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its holdings in shares of SFL by 16.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,259,801 shares of the shipping company’s stock worth $9,839,000 after purchasing an additional 174,072 shares during the last quarter. Savant Capital LLC increased its stake in SFL by 140.1% in the 4th quarter. Savant Capital LLC now owns 31,735 shares of the shipping company’s stock worth $248,000 after acquiring an additional 18,517 shares during the last quarter. Novak & Powell Financial Services Inc. raised its holdings in shares of SFL by 5.3% during the 4th quarter. Novak & Powell Financial Services Inc. now owns 46,341 shares of the shipping company’s stock worth $362,000 after acquiring an additional 2,332 shares in the last quarter. Fisher Asset Management LLC bought a new position in shares of SFL during the 4th quarter valued at approximately $100,000. Finally, Glenview Trust Co bought a new stake in SFL in the fourth quarter worth $125,000. Institutional investors own 28.59% of the company’s stock.

SFL Company Profile

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.