SFL (NYSE:SFL) Reaches New 12-Month Low – Time to Sell?

SFL Co. Ltd. (NYSE:SFL)’s share price hit a new 52-week low during mid-day trading on Friday . The stock 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 Upgrades and Downgrades

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

SFL Stock Up 0.2 %

The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 1.93. The business’s fifty day moving average price is $10.58 and its 200 day moving average price is $11.69. The company has a market capitalization of $1.35 billion, a P/E ratio of 8.77 and a beta of 0.67.

SFL (NYSE:SFL) last released its quarterly earnings data 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). SFL had a net margin of 16.03% and a return on equity of 14.61%. The company had revenue of $255.30 million for the quarter, compared to analyst estimates of $243.98 million. During the same period in the previous year, the firm posted $0.23 earnings per share. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year.

SFL Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 annualized dividend and a yield of 11.09%. SFL’s dividend payout ratio is currently 97.30%.

Hedge Funds Weigh In On SFL

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SFL. Dimensional Fund Advisors LP increased its holdings 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 buying an additional 64,875 shares in the last quarter. American Century Companies Inc. increased its holdings in SFL by 19.8% during the 2nd quarter. American Century Companies Inc. now owns 2,803,656 shares of the shipping company’s stock valued at $38,915,000 after purchasing an additional 462,789 shares in the last quarter. State Street Corp raised its position in SFL by 2.5% in the 3rd quarter. State Street Corp now owns 2,074,341 shares of the shipping company’s stock valued at $24,000,000 after purchasing an additional 51,022 shares during the last quarter. Geode Capital Management LLC boosted its stake in SFL by 4.8% in the third quarter. Geode Capital Management LLC now owns 1,441,688 shares of the shipping company’s stock worth $16,680,000 after purchasing an additional 66,096 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of SFL by 8.8% during the second quarter. Renaissance Technologies LLC now owns 1,276,865 shares of the shipping company’s stock worth $17,723,000 after purchasing an additional 103,600 shares during the last quarter. 28.59% of the stock is currently owned by institutional investors and hedge funds.

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.