SFL (NYSE:SFL) Upgraded by Fearnley Fonds to Strong-Buy Rating

Fearnley Fonds upgraded shares of SFL (NYSE:SFL) from a hold rating to a strong-buy rating in a report published on Thursday morning,Zacks.com reports.

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

SFL Trading Up 0.9 %

SFL opened at $10.99 on Thursday. The company has a market cap of $1.52 billion, a P/E ratio of 9.90 and a beta of 0.68. The company has a fifty day moving average price of $11.05 and a two-hundred day moving average price of $12.21. SFL has a 1-year low of $10.01 and a 1-year high of $14.62. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 1.93.

SFL (NYSE:SFL) last issued its quarterly earnings data on Wednesday, November 6th. The shipping company reported $0.34 earnings per share (EPS) 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 business had revenue of $255.30 million for the quarter, compared to analyst estimates of $243.98 million. During the same quarter in the prior year, the business earned $0.23 earnings per share. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year.

SFL Dividend Announcement

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 issued a $0.27 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.08 annualized dividend and a yield of 9.83%. SFL’s dividend payout ratio (DPR) is presently 97.30%.

Institutional Trading of SFL

Several institutional investors have recently bought and sold shares of SFL. Public Employees Retirement System of Ohio purchased a new position in shares of SFL in the third quarter worth approximately $34,000. Quarry LP raised its stake in SFL by 428.2% during the 3rd quarter. Quarry LP now owns 3,967 shares of the shipping company’s stock valued at $46,000 after purchasing an additional 3,216 shares during the period. Point72 DIFC Ltd purchased a new position in SFL in the 3rd quarter worth approximately $49,000. Farther Finance Advisors LLC boosted its stake in SFL by 1,375.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,293 shares of the shipping company’s stock worth $50,000 after purchasing an additional 4,002 shares during the period. Finally, Millburn Ridgefield Corp purchased a new stake in SFL during the 3rd quarter valued at approximately $92,000. 28.59% of the stock is owned by hedge funds and other institutional investors.

About SFL

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.