SFL (NYSE:SFL) Upgraded at Fearnley Fonds

Fearnley Fonds upgraded shares of SFL (NYSE:SFL) from a hold rating to a strong-buy rating in a research note issued to investors on Thursday,Zacks.com reports.

Separately, Pareto Securities raised shares of SFL from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th.

SFL Stock Up 0.9 %

SFL stock opened at $10.99 on Thursday. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 9.90 and a beta of 0.68. The company has a 50-day moving average of $11.05 and a two-hundred day moving average of $12.22. SFL has a 52-week low of $10.01 and a 52-week high of $14.62. The company has a debt-to-equity ratio of 1.93, a current ratio of 0.50 and a quick ratio of 0.50.

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

SFL Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given 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 dividend yield of 9.83%. SFL’s dividend payout ratio is currently 97.30%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC raised its stake in shares of SFL by 1,252.6% in the 3rd quarter. International Assets Investment Management LLC now owns 811,439 shares of the shipping company’s stock valued at $9,388,000 after buying an additional 751,449 shares in the last quarter. American Century Companies Inc. increased its stake 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 valued at $38,915,000 after acquiring an additional 462,789 shares during the period. Acadian Asset Management LLC raised its position in SFL by 151.8% in the second quarter. Acadian Asset Management LLC now owns 321,211 shares of the shipping company’s stock worth $4,449,000 after purchasing an additional 193,648 shares in the last quarter. Barclays PLC lifted its stake in SFL by 239.3% during the third quarter. Barclays PLC now owns 168,908 shares of the shipping company’s stock worth $1,954,000 after purchasing an additional 119,131 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in SFL by 8.8% during the second quarter. Renaissance Technologies LLC now owns 1,276,865 shares of the shipping company’s stock valued at $17,723,000 after purchasing an additional 103,600 shares in the last quarter. 28.59% of the stock is owned by institutional investors.

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.