SFL (NYSE:SFL) Posts Quarterly Earnings Results

SFL (NYSE:SFL) posted its quarterly earnings results on Tuesday. The shipping company reported $0.01 earnings per share (EPS) for the quarter, Briefing.com reports. The business had revenue of $192.59 million for the quarter, compared to analyst estimates of $192.40 million. SFL had a return on equity of 6.52% and a net margin of 3.97%.The business’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.16 EPS.

SFL Stock Performance

SFL stock opened at $8.0450 on Thursday. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 2.14. The firm has a market cap of $1.17 billion, a P/E ratio of 30.94 and a beta of 0.56. SFL has a 12-month low of $6.78 and a 12-month high of $11.93. The stock’s 50 day simple moving average is $8.94 and its 200 day simple moving average is $8.73.

SFL Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, September 12th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 9.9%. The ex-dividend date of this dividend is Friday, September 12th. SFL’s dividend payout ratio is currently 263.41%.

Institutional Investors Weigh In On SFL

Several institutional investors and hedge funds have recently made changes to their positions in SFL. EverSource Wealth Advisors LLC grew 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 worth $28,000 after buying an additional 2,944 shares during the last quarter. Captrust Financial Advisors bought a new position in SFL during the 2nd quarter worth $134,000. Cetera Investment Advisers grew its stake in SFL by 10.4% during the 2nd quarter. Cetera Investment Advisers now owns 16,034 shares of the shipping company’s stock worth $134,000 after buying an additional 1,510 shares during the last quarter. Prudential Financial Inc. bought a new position in SFL during the 2nd quarter worth $139,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of SFL by 324.0% in the second quarter. Tower Research Capital LLC TRC now owns 17,338 shares of the shipping company’s stock worth $144,000 after purchasing an additional 13,249 shares in the last quarter. 28.59% of the stock is owned by institutional investors and hedge funds.

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.