SFL (NYSE:SFL) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of SFL (NYSE:SFL) from a sell rating to a hold rating in a research note published on Saturday.

Several other research analysts have also issued reports on the stock. Weiss Ratings raised shares of SFL from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, February 2nd. BTIG Research lifted their price objective on SFL from $11.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

SFL Stock Down 0.6%

SFL opened at $10.58 on Friday. SFL has a fifty-two week low of $6.73 and a fifty-two week high of $11.28. The company has a debt-to-equity ratio of 2.04, a current ratio of 0.36 and a quick ratio of 0.35. The firm’s fifty day moving average price is $9.94 and its two-hundred day moving average price is $8.54. The company has a market capitalization of $1.53 billion, a P/E ratio of -52.88 and a beta of 0.41.

SFL (NYSE:SFL) last announced its quarterly earnings data 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 business had revenue of $175.51 million during the quarter, compared to analyst estimates of $168.36 million. During the same quarter in the prior year, the company posted $0.15 EPS. The company’s quarterly revenue was down 23.1% compared to the same quarter last year.

SFL Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Thursday, March 12th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $0.80 dividend on an annualized basis and a yield of 7.6%. SFL’s payout ratio is currently -400.00%.

Institutional Trading of SFL

A number of hedge funds and other institutional investors have recently made changes to their positions in SFL. Russell Investments Group Ltd. lifted its position in SFL by 4.8% during the 4th quarter. Russell Investments Group Ltd. now owns 29,778 shares of the shipping company’s stock worth $233,000 after buying an additional 1,353 shares in the last quarter. Novak & Powell Financial Services Inc. increased its position in SFL by 3.2% in the 3rd quarter. Novak & Powell Financial Services Inc. now owns 44,009 shares of the shipping company’s stock valued at $331,000 after acquiring an additional 1,373 shares in the last quarter. Signaturefd LLC increased its position 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 acquiring an additional 1,405 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of SFL by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 22,171 shares of the shipping company’s stock worth $173,000 after acquiring an additional 1,424 shares during the last quarter. Finally, Brighton Jones LLC raised its stake in shares of SFL by 8.2% in the fourth quarter. Brighton Jones LLC now owns 19,395 shares of the shipping company’s stock worth $198,000 after acquiring an additional 1,474 shares during the last quarter. 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.