SFL (NYSE:SFL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of SFL (NYSE:SFL) from a hold rating to a buy rating in a research note issued to investors on Sunday.

A number of other equities research analysts have also recently issued reports on SFL. BTIG Research raised their target price on SFL from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Weiss Ratings upgraded shares of SFL from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 15th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, SFL has an average rating of “Moderate Buy” and a consensus price target of $14.00.

SFL Stock Up 1.7%

NYSE:SFL opened at $12.14 on Friday. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 1.84. The stock has a 50 day moving average of $11.24 and a 200-day moving average of $10.67. The firm has a market capitalization of $1.76 billion, a PE ratio of 50.61 and a beta of 0.44. SFL has a 52 week low of $6.73 and a 52 week high of $12.94.

SFL (NYSE:SFL) last announced its quarterly earnings results on Tuesday, May 12th. The shipping company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.13. The business had revenue of $174.48 million for the quarter, compared to the consensus estimate of $170.77 million. SFL had a return on equity of 0.26% and a net margin of 4.37%.The business’s revenue was down 6.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.24) EPS.

SFL Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th were given a dividend of $0.22 per share. This is a boost from SFL’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, May 27th. This represents a $0.88 dividend on an annualized basis and a yield of 7.2%. SFL’s payout ratio is presently 366.67%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its stake in SFL by 789.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,317 shares of the shipping company’s stock valued at $28,000 after buying an additional 2,944 shares during the period. Triumph Capital Management acquired a new stake in shares of SFL in the 3rd quarter worth approximately $32,000. Signaturefd LLC boosted its holdings in shares of SFL by 30.5% in the fourth quarter. Signaturefd LLC now owns 6,008 shares of the shipping company’s stock valued at $47,000 after acquiring an additional 1,405 shares in the last quarter. Kemnay Advisory Services Inc. bought a new position in shares of SFL in the fourth quarter valued at approximately $47,000. Finally, Quadrant Capital Group LLC increased its stake in shares of SFL by 122.3% during the fourth quarter. Quadrant Capital Group LLC now owns 6,139 shares of the shipping company’s stock valued at $48,000 after acquiring an additional 3,377 shares during the period. 28.59% of the stock is owned by institutional investors and hedge funds.

SFL Company Profile

Ship Finance International Limited (NYSE: SFL) is an independent owner of modern, large-size ocean-going vessels that provides finance and leasing services to the global shipping industry. The company’s fleet encompasses a diversified mix of crude oil tankers, product and chemical tankers, liquefied natural gas (LNG) carriers, dry bulk carriers, container vessels and floating production storage and offloading (FPSO) units. By structuring long-term charter agreements and bareboat leases with major oil companies, commodity traders and offshore operators, Ship Finance International seeks to deliver stable cash flows and risk-adjusted returns for its shareholders.

In its core business, Ship Finance International acquires or finances vessels through forward sales agreements and then charters them out under fixed-rate contracts, typically ranging from five to 20 years in duration.