SFL (NYSE:SFL) Reaches New 12-Month Low – Here’s What Happened

Shares of SFL Co. Ltd. (NYSE:SFL) hit a new 52-week low during trading on Friday . The company traded as low as $10.31 and last traded at $10.32, with a volume of 187456 shares trading hands. The stock had previously closed at $10.56.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SFL. Pareto Securities upgraded shares of SFL from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. StockNews.com upgraded shares of SFL from a “hold” rating to a “buy” rating in a research note on Tuesday, July 16th.

SFL Stock Down 2.7 %

The stock’s fifty day moving average is $11.22 and its two-hundred day moving average is $12.44. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 1.65. The firm has a market cap of $1.42 billion, a P/E ratio of 9.51 and a beta of 0.68.

SFL (NYSE:SFL) last posted its earnings results on Wednesday, August 14th. The shipping company reported $0.16 earnings per share for the quarter. The business had revenue of $190.90 million for the quarter, compared to analyst estimates of $184.17 million. SFL had a net margin of 16.03% and a return on equity of 14.96%. SFL’s revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.13 EPS.

SFL Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 10.52%. The ex-dividend date of this dividend is Friday, December 13th. SFL’s payout ratio is 97.30%.

Hedge Funds Weigh In On SFL

Institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC boosted its stake in shares of SFL by 1,375.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,293 shares of the shipping company’s stock valued at $50,000 after purchasing an additional 4,002 shares in the last quarter. Kohmann Bosshard Financial Services LLC boosted its stake in shares of SFL by 25.0% in the 3rd quarter. Kohmann Bosshard Financial Services LLC now owns 12,500 shares of the shipping company’s stock valued at $145,000 after purchasing an additional 2,500 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of SFL in the 3rd quarter valued at $168,000. nVerses Capital LLC boosted its stake in shares of SFL by 2,840.0% in the 3rd quarter. nVerses Capital LLC now owns 14,700 shares of the shipping company’s stock valued at $170,000 after purchasing an additional 14,200 shares in the last quarter. Finally, Calton & Associates Inc. purchased a new stake in shares of SFL in the 3rd quarter valued at $176,000. Institutional investors 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.