SFL (NYSE:SFL) Stock Crosses Above 50 Day Moving Average – Should You Sell?

SFL Corporation Ltd. (NYSE:SFL)’s share price passed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $12.85 and traded as high as $13.20. SFL shares last traded at $13.1820, with a volume of 1,257,656 shares changing hands.

Wall Street Analysts Forecast Growth

SFL has been the subject of a number of research analyst reports. Weiss Ratings raised SFL from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 27th. Wall Street Zen raised SFL from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. Benchmark reiterated a “buy” rating on shares of SFL in a research note on Wednesday, August 26th. Finally, BTIG Research reissued a “buy” rating and issued a $14.00 price objective on shares of SFL in a report on Wednesday, August 26th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, SFL presently has an average rating of “Moderate Buy” and a consensus price target of $14.00.

SFL Stock Up 3.1%

The company has a debt-to-equity ratio of 1.75, a current ratio of 0.38 and a quick ratio of 0.38. The firm’s 50 day moving average price is $12.85 and its two-hundred day moving average price is $11.36. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 27.46 and a beta of 0.43.

SFL (NYSE:SFL) last issued its quarterly earnings results on Wednesday, August 26th. The shipping company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.11. The firm had revenue of $200.77 million for the quarter, compared to analysts’ expectations of $179.65 million. SFL had a return on equity of 3.41% and a net margin of 8.76%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.01 EPS.

SFL Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Wednesday, September 9th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 6.7%. The ex-dividend date was Wednesday, September 9th. SFL’s dividend payout ratio (DPR) is 183.33%.

Institutional Investors Weigh In On SFL

Several large investors have recently modified their holdings of the stock. NFSG Corp lifted its holdings in shares of SFL by 50.0% during the first quarter. NFSG Corp now owns 4,500 shares of the shipping company’s stock worth $49,000 after purchasing an additional 1,500 shares during the period. Integrated Wealth Concepts LLC purchased a new position in SFL in the 2nd quarter valued at $57,000. State of Alaska Department of Revenue acquired a new position in SFL in the 3rd quarter valued at $57,000. IFP Advisors Inc increased its stake in SFL by 145.9% in the 2nd quarter. IFP Advisors Inc now owns 6,026 shares of the shipping company’s stock valued at $61,000 after buying an additional 3,575 shares during the period. Finally, Sage Investment Counsel LLC acquired a new position in SFL in the 1st quarter valued at $108,000. Hedge funds and other institutional investors own 28.59% of the company’s stock.

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.