SFL Corporation Ltd. (SFL) To Go Ex-Dividend on September 9th

SFL Corporation Ltd. (NYSE:SFL) announced a quarterly dividend on Wednesday, August 26th. Shareholders of record on Wednesday, September 9th will be given a dividend of 0.22 per share by the shipping company on Tuesday, September 22nd. This represents a c) annualized dividend and a yield of 6.8%. The ex-dividend date of this dividend is Wednesday, September 9th.

SFL has decreased its dividend by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 1 years. SFL has a 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 Stock Performance

SFL stock opened at $12.85 on Monday. The firm has a market capitalization of $1.86 billion, a PE ratio of 26.77 and a beta of 0.40. SFL has a one year low of $6.73 and a one year high of $12.94. The stock’s 50 day moving average price is $11.76 and its 200 day moving average price is $11.34. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.38 and a current ratio of 0.38.

SFL (NYSE:SFL) last issued its quarterly earnings data on Wednesday, August 26th. The shipping company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.11. The company had revenue of $200.77 million during the quarter, compared to the consensus estimate of $179.65 million. SFL had a net margin of 8.76% and a return on equity of 3.41%. SFL’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the company earned $0.01 earnings per share.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Benchmark reaffirmed a “buy” rating on shares of SFL in a report on Wednesday, August 26th. Weiss Ratings upgraded shares of SFL from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 27th. BTIG Research reissued a “buy” rating and issued a $14.00 price objective on shares of SFL in a research report on Wednesday, August 26th. Finally, Wall Street Zen upgraded SFL from a “hold” rating to a “buy” rating in a research note on Saturday, August 22nd. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.