SFL (NYSE:SFL) Stock Rating Upgraded by Fearnley Fonds

Fearnley Fonds upgraded shares of SFL (NYSE:SFL) from a hold rating to a strong-buy rating in a report issued on Thursday morning,Zacks.com reports.

Separately, Pareto Securities upgraded shares of SFL from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th.

SFL Price Performance

Shares of SFL stock opened at $10.99 on Thursday. SFL has a 52 week low of $10.01 and a 52 week high of $14.62. The stock has a market capitalization of $1.52 billion, a PE ratio of 9.90 and a beta of 0.68. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.50 and a current ratio of 0.50. The stock’s fifty day moving average is $11.05 and its 200-day moving average is $12.22.

SFL (NYSE:SFL) last issued its quarterly earnings data on Wednesday, November 6th. The shipping company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). SFL had a return on equity of 14.61% and a net margin of 16.03%. The company had revenue of $255.30 million for the quarter, compared to the consensus estimate of $243.98 million. During the same period in the prior year, the company earned $0.23 EPS. The firm’s revenue was up 24.6% compared to the same quarter last year.

SFL Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.08 dividend on an annualized basis and a yield of 9.83%. SFL’s payout ratio is presently 97.30%.

Institutional Investors Weigh In On SFL

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in SFL by 4.8% in the third quarter. Geode Capital Management LLC now owns 1,441,688 shares of the shipping company’s stock valued at $16,680,000 after acquiring an additional 66,096 shares during the last quarter. Barclays PLC lifted its stake in shares of SFL by 239.3% in the 3rd quarter. Barclays PLC now owns 168,908 shares of the shipping company’s stock valued at $1,954,000 after purchasing an additional 119,131 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of SFL in the 3rd quarter worth $34,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of SFL during the third quarter worth $296,000. Finally, State Street Corp increased its holdings in SFL by 2.5% in the third quarter. State Street Corp now owns 2,074,341 shares of the shipping company’s stock valued at $24,000,000 after purchasing an additional 51,022 shares during the last quarter. 28.59% of the stock is owned by institutional investors.

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.