SFL (NYSE:SFL) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

SFL Corporation Ltd. (NYSE:SFL)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.31 and traded as high as $12.56. SFL shares last traded at $12.4630, with a volume of 1,554,854 shares.

Wall Street Analysts Forecast Growth

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

SFL Price Performance

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 has a 50-day moving average of $11.72 and a 200 day moving average of $11.33. The company has a market capitalization of $1.84 billion, a PE ratio of 26.57 and a beta of 0.40.

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

SFL Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Wednesday, September 9th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 6.9%. The ex-dividend date of this dividend is Wednesday, September 9th. SFL’s payout ratio is 183.33%.

Hedge Funds Weigh In On SFL

Several institutional investors have recently added to or reduced their stakes in SFL. Burney Co. purchased a new position in SFL in the first quarter worth $879,000. Renaissance Technologies LLC boosted its holdings in shares of SFL by 25.2% in the 1st quarter. Renaissance Technologies LLC now owns 437,565 shares of the shipping company’s stock valued at $4,721,000 after acquiring an additional 88,100 shares during the last quarter. Everstar Asset Management LLC boosted its holdings in SFL by 70.4% in the fourth quarter. Everstar Asset Management LLC now owns 133,011 shares of the shipping company’s stock valued at $1,040,000 after purchasing an additional 54,962 shares during the last quarter. Dimensional Fund Advisors LP grew its position in SFL by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,805,291 shares of the shipping company’s stock worth $95,007,000 after purchasing an additional 244,621 shares during the period. Finally, Counterpoint Mutual Funds LLC purchased a new position in shares of SFL during the 1st quarter valued at about $879,000. Hedge funds and other institutional investors own 28.59% of the company’s stock.

About SFL

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.