SFL (NYSE:SFL) Downgraded to Hold at StockNews.com

StockNews.com downgraded shares of SFL (NYSE:SFLFree Report) from a buy rating to a hold rating in a research note released on Wednesday.

SFL Trading Up 2.7 %

Shares of NYSE SFL opened at $13.32 on Wednesday. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.31 and a quick ratio of 0.30. The stock has a market cap of $1.85 billion, a P/E ratio of 20.18 and a beta of 0.66. SFL has a 1 year low of $8.43 and a 1 year high of $13.74. The firm has a 50-day moving average of $12.62 and a 200 day moving average of $11.67.

SFL (NYSE:SFLGet Free Report) last issued its earnings results on Wednesday, February 14th. The shipping company reported $0.30 earnings per share (EPS) for the quarter. The business had revenue of $209.57 million during the quarter. SFL had a net margin of 11.16% and a return on equity of 8.04%.

SFL Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Friday, March 15th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This is a boost from SFL’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 7.81%. SFL’s payout ratio is 157.58%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in shares of SFL by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 2,046,431 shares of the shipping company’s stock worth $20,832,000 after acquiring an additional 30,763 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in shares of SFL by 15.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 21,120 shares of the shipping company’s stock worth $215,000 after acquiring an additional 2,889 shares during the period. HighTower Advisors LLC bought a new stake in shares of SFL in the first quarter worth approximately $126,000. Panagora Asset Management Inc. bought a new stake in shares of SFL in the first quarter worth approximately $503,000. Finally, LSV Asset Management grew its position in SFL by 3,760.1% during the first quarter. LSV Asset Management now owns 445,453 shares of the shipping company’s stock valued at $4,535,000 after buying an additional 433,913 shares during the period. 28.96% of the stock is owned by hedge funds and other institutional investors.

SFL Company Profile

(Get Free Report)

SFL Corporation Ltd., a maritime and offshore asset owning and chartering company, engages in the ownership, operation, and chartering out of vessels and offshore related assets on medium and long-term charters. The company operates in various sectors of the maritime, and shipping and offshore industries, including oil transportation, dry bulk shipments, chemical transportation, oil products transportation, container transportation, car transportation, and drilling rigs.

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