SFL (NYSE:SFL) Issues Quarterly Earnings Results

SFL (NYSE:SFL) released its earnings results on Wednesday. The shipping company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03), Briefing.com reports. The company had revenue of $255.30 million during the quarter, compared to analysts’ expectations of $243.98 million. SFL had a net margin of 16.03% and a return on equity of 14.96%. The firm’s revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.23 earnings per share.

SFL Stock Performance

Shares of NYSE:SFL traded down $0.26 during trading on Friday, hitting $10.30. 1,585,360 shares of the company were exchanged, compared to its average volume of 837,400. The company has a market cap of $1.43 billion, a PE ratio of 9.28 and a beta of 0.68. SFL has a 52-week low of $10.12 and a 52-week high of $14.62. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.34 and a quick ratio of 0.34. The stock has a 50 day moving average of $11.19 and a 200 day moving average of $12.42.

SFL Announces Dividend

The firm 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 $0.27 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.08 dividend on an annualized basis and a yield of 10.49%. SFL’s dividend payout ratio is 97.30%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on SFL shares. StockNews.com raised SFL from a “hold” rating to a “buy” rating in a research report on Tuesday, July 16th. Pareto Securities upgraded SFL from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th.

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.