SFL Corporation Ltd. (SFL) To Go Ex-Dividend on December 15th

SFL Corporation Ltd. (NYSE:SFL) announced a quarterly dividend on Wednesday, November 4th. Stockholders of record on Tuesday, December 15th will be given a dividend of $0.22 per share by the shipping company on Monday, December 28th. This represents a $0.88 annualized dividend and a dividend yield of 8.0%. The ex-dividend date is Tuesday, December 15th.

SFL has a dividend payout ratio of 303.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

SFL Trading Down 6.6%

Shares of SFL opened at $10.95 on Friday. SFL has a 1 year low of $7.41 and a 1 year high of $13.98. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 1.75. The stock has a 50 day simple moving average of $12.83 and a 200-day simple moving average of $11.45. The stock has a market cap of $1.58 billion, a PE ratio of 16.34 and a beta of 0.48.

SFL (NYSE:SFL) last announced its quarterly earnings results on Wednesday, November 4th. The shipping company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.21 by $0.05. The business had revenue of $201.58 million for the quarter, compared to analyst estimates of $187.80 million. SFL had a return on equity of 6.26% and a net margin of 12.30%. SFL’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.07 EPS.

Analyst Ratings Changes

A number of research analysts have issued reports on SFL shares. Weiss Ratings raised SFL from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 27th. Benchmark restated a “buy” rating on shares of SFL in a research note on Wednesday, August 26th. BTIG Research reaffirmed a “buy” rating and issued a $14.00 target price on shares of SFL in a report on Wednesday, August 26th. Finally, Wall Street Zen upgraded shares of SFL from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $14.00.

SFL Company Profile

SFL Corporation Ltd. is a maritime and offshore asset-owning company headquartered in Hamilton, Bermuda, and listed on the New York Stock Exchange under the symbol SFL. Formerly known as Ship Finance International Limited, the company was established in 2003 and has developed a diversified portfolio of vessels and offshore assets.

The company primarily acquires, owns and leases assets under long-term charter and lease agreements. Its portfolio has included crude oil and product tankers, dry bulk carriers, container ships, car carriers, offshore drilling units and other specialized maritime assets.