SFL (NYSE:SFL) Reaches New 1-Year Low – Here’s Why

Shares of SFL Co. Ltd. (NYSE:SFL) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $9.64 and last traded at $9.83, with a volume of 157182 shares. The stock had previously closed at $9.72.

Analyst Ratings Changes

Separately, Fearnley Fonds raised shares of SFL from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st.

SFL Stock Performance

The firm has a fifty day moving average of $10.58 and a 200-day moving average of $11.69. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 1.93. The firm has a market cap of $1.35 billion, a P/E ratio of 8.77 and a beta of 0.67.

SFL (NYSE:SFL) last posted its quarterly earnings results on Wednesday, November 6th. The shipping company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). The business had revenue of $255.30 million for the quarter, compared to the consensus estimate of $243.98 million. SFL had a return on equity of 14.61% and a net margin of 16.03%. The company’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period last year, the firm earned $0.23 earnings per share.

SFL Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, December 13th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 11.09%. SFL’s dividend payout ratio (DPR) is presently 97.30%.

Hedge Funds Weigh In On SFL

Hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC increased its stake in shares of SFL by 3.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 29,908 shares of the shipping company’s stock valued at $415,000 after acquiring an additional 919 shares during the last quarter. Acadian Asset Management LLC increased its stake in SFL by 151.8% in the second quarter. Acadian Asset Management LLC now owns 321,211 shares of the shipping company’s stock valued at $4,449,000 after purchasing an additional 193,648 shares in the last quarter. Doheny Asset Management CA increased its stake in SFL by 18.1% in the second quarter. Doheny Asset Management CA now owns 307,833 shares of the shipping company’s stock valued at $4,273,000 after purchasing an additional 47,116 shares in the last quarter. American Century Companies Inc. raised its holdings in SFL by 19.8% in the second quarter. American Century Companies Inc. now owns 2,803,656 shares of the shipping company’s stock worth $38,915,000 after purchasing an additional 462,789 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of SFL by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 8,995,617 shares of the shipping company’s stock worth $124,859,000 after purchasing an additional 64,875 shares in the last quarter. Institutional investors and hedge funds own 28.59% of the company’s stock.

SFL Company Profile

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.