SFL (NYSE:SFL) Hits New 12-Month Low - Time to Sell?

SFL Co. Ltd. (NYSE:SFL - Get Free Report) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $9.64 and last traded at $9.83, with a volume of 157182 shares changing hands. The stock had previously closed at $9.72.

Wall Street Analyst Weigh In

Separately, Fearnley Fonds raised SFL from a "hold" rating to a "strong-buy" rating in a research report on Thursday, November 21st.

SFL Price Performance

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 company has a market capitalization of $1.35 billion, a PE ratio of 8.77 and a beta of 0.67. The company's 50-day simple moving average is $10.62 and its 200-day simple moving average is $11.73.

SFL (NYSE:SFL - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The shipping company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.03). The company had revenue of $255.30 million for the quarter, compared to analysts' expectations of $243.98 million. SFL had a return on equity of 14.61% and a net margin of 16.03%. The business's quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 EPS.

SFL Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 11.09%. The ex-dividend date is Friday, December 13th. SFL's payout ratio is currently 97.30%.

Hedge Funds Weigh In On SFL

A number of large investors have recently bought and sold shares of SFL. Public Employees Retirement System of Ohio acquired a new position in shares of SFL during the third quarter worth about $34,000. Quarry LP boosted its holdings in SFL by 428.2% in the 3rd quarter. Quarry LP now owns 3,967 shares of the shipping company's stock valued at $46,000 after purchasing an additional 3,216 shares in the last quarter. Point72 DIFC Ltd acquired a new position in SFL during the 3rd quarter worth approximately $49,000. Farther Finance Advisors LLC raised its stake in shares of SFL by 1,375.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,293 shares of the shipping company's stock worth $50,000 after buying an additional 4,002 shares in the last quarter. Finally, Millburn Ridgefield Corp acquired a new stake in shares of SFL in the 3rd quarter valued at approximately $92,000. Hedge funds and other institutional investors own 28.59% of the company's stock.

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.