SFL (NYSE:SFL) Shares Cross Above 200-Day Moving Average of $10.28

SFL Co. Ltd. (NYSE:SFLGet Rating)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $10.28 and traded as high as $10.48. SFL shares last traded at $10.16, with a volume of 817,314 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, DNB Markets upgraded shares of SFL from a “hold” rating to a “buy” rating in a research report on Wednesday, August 24th.

SFL Stock Performance

The company has a market capitalization of $1.40 billion, a P/E ratio of 5.89 and a beta of 0.74. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.38 and a quick ratio of 0.37. The stock’s 50 day simple moving average is $10.42 and its two-hundred day simple moving average is $10.28.

SFL (NYSE:SFLGet Rating) last announced its earnings results on Wednesday, August 17th. The shipping company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.27. SFL had a net margin of 36.71% and a return on equity of 15.63%. During the same period in the prior year, the firm earned $0.16 earnings per share. As a group, research analysts expect that SFL Co. Ltd. will post 1.23 earnings per share for the current year.

SFL Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 9.13%. This is an increase from SFL’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Wednesday, September 14th. SFL’s payout ratio is 53.80%.

Institutional Investors Weigh In On SFL

Institutional investors and hedge funds have recently modified their holdings of the business. Venture Visionary Partners LLC bought a new stake in shares of SFL during the second quarter worth approximately $26,000. Federated Hermes Inc. increased its stake in SFL by 125.3% in the first quarter. Federated Hermes Inc. now owns 2,854 shares of the shipping company’s stock valued at $29,000 after purchasing an additional 1,587 shares in the last quarter. Capital Analysts LLC bought a new stake in SFL in the second quarter valued at approximately $37,000. Captrust Financial Advisors increased its stake in SFL by 58.5% in the first quarter. Captrust Financial Advisors now owns 4,256 shares of the shipping company’s stock valued at $43,000 after purchasing an additional 1,570 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new stake in SFL in the fourth quarter valued at approximately $88,000. 32.60% of the stock is owned by institutional investors.

About SFL

(Get Rating)

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 is also involved in the charter, purchase, and sale of assets. In addition, it operates in various sectors of the maritime, and shipping and offshore industries, including oil, chemical, oil product, container, and car transportation, as well as dry bulk shipments and drilling rigs.

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