SFL (NYSE:SFL) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of SFL (NYSE:SFL) from a hold rating to a sell rating in a report released on Sunday morning.

SFL has been the subject of a number of other reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of SFL in a research report on Monday, December 8th. BTIG Research boosted their price objective on SFL from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.00.

SFL Stock Down 2.5%

SFL opened at $7.65 on Friday. SFL has a 1 year low of $6.73 and a 1 year high of $11.14. The firm has a 50 day moving average price of $7.70 and a 200 day moving average price of $8.26. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.42 and a current ratio of 0.42. The company has a market cap of $1.11 billion, a PE ratio of -764.50 and a beta of 0.45.

SFL (NYSE:SFL) last released its quarterly earnings data on Wednesday, November 12th. The shipping company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.08. SFL had a negative net margin of 0.20% and a positive return on equity of 3.05%. The company had revenue of $178.21 million during the quarter, compared to the consensus estimate of $172.45 million. During the same period in the previous year, the firm earned $0.34 earnings per share. SFL’s revenue for the quarter was down 30.2% on a year-over-year basis.

SFL Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 29th. Stockholders of record on Friday, December 12th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 12th. This represents a $0.80 annualized dividend and a dividend yield of 10.5%. SFL’s payout ratio is presently -8,000.00%.

Hedge Funds Weigh In On SFL

Several large investors have recently modified their holdings of SFL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in SFL by 150.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,618,303 shares of the shipping company’s stock valued at $21,470,000 after buying an additional 1,574,696 shares during the last quarter. American Century Companies Inc. grew its position in shares of SFL by 27.2% in the 2nd quarter. American Century Companies Inc. now owns 3,297,605 shares of the shipping company’s stock worth $27,469,000 after acquiring an additional 704,710 shares in the last quarter. Nuveen LLC bought a new stake in shares of SFL in the 1st quarter valued at approximately $4,172,000. Credit Agricole S A bought a new stake in shares of SFL in the 3rd quarter valued at approximately $2,064,000. Finally, Petrus Trust Company LTA raised its position in shares of SFL by 419.8% during the 1st quarter. Petrus Trust Company LTA now owns 151,291 shares of the shipping company’s stock valued at $1,241,000 after acquiring an additional 122,187 shares in the last quarter. Institutional investors own 28.59% of the company’s stock.

SFL Company Profile

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.