SFL Corporation Ltd. (SFL) To Go Ex-Dividend on May 27th

SFL Corporation Ltd. (NYSE:SFL) announced a quarterly dividend on Tuesday, May 12th. Shareholders of record on Wednesday, May 27th will be paid a dividend of 0.22 per share by the shipping company on Monday, June 22nd. This represents a c) annualized dividend and a yield of 7.1%. The ex-dividend date of this dividend is Wednesday, May 27th. This is a 10.0% increase from SFL’s previous quarterly dividend of $0.20.

SFL has decreased its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 1 years. SFL has a payout ratio of 275.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

SFL Stock Down 3.1%

Shares of NYSE:SFL opened at $12.40 on Thursday. SFL has a 52 week low of $6.73 and a 52 week high of $12.94. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.35 and a current ratio of 0.36. The company has a market capitalization of $1.79 billion, a PE ratio of 51.66 and a beta of 0.42. The company has a 50 day moving average price of $10.96 and a two-hundred day moving average price of $9.36.

SFL (NYSE:SFL) last issued its earnings results on Tuesday, May 12th. The shipping company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.06 by $0.14. SFL had a net margin of 4.37% and a return on equity of 0.26%. The firm had revenue of $174.48 million during the quarter, compared to the consensus estimate of $170.77 million. During the same quarter in the prior year, the firm earned ($0.24) earnings per share. The business’s quarterly revenue was down 6.8% on a year-over-year basis.

Analysts Set New Price Targets

SFL has been the subject of several research reports. BTIG Research increased their price objective on shares of SFL from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday. Wall Street Zen raised shares of SFL from a “sell” rating to a “hold” rating in a research report on Sunday, May 3rd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of SFL in a research report on Friday, May 1st. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $14.00.

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.