SFL (NYSE:SFL) Stock Price Crosses Above 200-Day Moving Average – Should You Sell?

SFL Corporation Ltd. (NYSE:SFL – Get Free Report)’s share price crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $11.67 and traded as high as $13.46. SFL shares last traded at $13.4350, with a volume of 1,100,605 shares trading hands.

Analyst Upgrades and Downgrades

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

Read Our Latest Report on SFL

SFL Stock Performance

The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.38 and a current ratio of 0.38. The firm’s 50 day simple moving average is $12.59 and its 200 day simple moving average is $11.67. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 27.99 and a beta of 0.43.

SFL (NYSE:SFL – Get Free Report) last released its quarterly earnings data on Wednesday, August 26th. The shipping company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.11. SFL had a net margin of 8.76% and a return on equity of 3.41%. The firm had revenue of $200.77 million for the quarter, compared to analyst estimates of $179.65 million. During the same quarter in the prior year, the business earned $0.01 earnings per share. The business’s quarterly revenue was up 4.1% compared to the same quarter last year.

SFL Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Wednesday, September 9th were paid a dividend of $0.22 per share. The ex-dividend date was Wednesday, September 9th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 6.6%. SFL’s dividend payout ratio (DPR) is presently 183.33%.

Institutional Trading of SFL

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its holdings in SFL by 2.9% in the first quarter. Dimensional Fund Advisors LP now owns 8,805,291 shares of the shipping company’s stock valued at $95,007,000 after acquiring an additional 244,621 shares during the period. Empowered Funds LLC grew its stake in shares of SFL by 3.9% during the 1st quarter. Empowered Funds LLC now owns 685,833 shares of the shipping company’s stock worth $7,400,000 after purchasing an additional 25,820 shares during the period. Renaissance Technologies LLC grew its stake in shares of SFL by 25.2% during the 1st quarter. Renaissance Technologies LLC now owns 437,565 shares of the shipping company’s stock worth $4,721,000 after purchasing an additional 88,100 shares during the period. Fearnley Asset Management AS acquired a new position in shares of SFL in the 4th quarter valued at $2,596,000. Finally, Burney Co. purchased a new stake in SFL during the first quarter worth $879,000. 28.59% of the stock is owned by institutional investors and hedge funds.

SFL Company Profile

(Get Free Report)

SFL Corporation Ltd. is a Bermuda-based maritime asset-owning and chartering company listed on the New York Stock Exchange under the symbol SFL. The company owns and leases a diversified fleet of vessels and offshore assets to customers under a combination of long-term charters and other commercial arrangements.

SFL’s fleet and activities have included crude oil and product tankers, container ships, dry bulk carriers, car carriers, offshore support and drilling units, and other specialized maritime assets.

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