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

SFL Co. Ltd. (NYSE:SFL - Get Free Report) shares hit a new 52-week low on Friday . The company traded as low as $9.91 and last traded at $10.01, with a volume of 116484 shares changing hands. The stock had previously closed at $9.98.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Fearnley Fonds upgraded shares of SFL from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 21st. Pareto Securities raised SFL from a "hold" rating to a "buy" rating in a research note on Tuesday, August 20th.

SFL Stock Up 0.9 %

The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 1.93. The firm has a market cap of $1.40 billion, a PE ratio of 9.07 and a beta of 0.67. The business's 50-day simple moving average is $10.76 and its 200 day simple moving average is $11.85.

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

SFL Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 10.72%. The ex-dividend date of this dividend is Friday, December 13th. SFL's payout ratio is currently 97.30%.

Hedge Funds Weigh In On SFL

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC boosted its holdings in shares of SFL by 309.1% in the 2nd quarter. SG Americas Securities LLC now owns 60,401 shares of the shipping company's stock valued at $838,000 after buying an additional 45,638 shares in the last quarter. Renaissance Technologies LLC boosted its stake in SFL by 8.8% in the second quarter. Renaissance Technologies LLC now owns 1,276,865 shares of the shipping company's stock valued at $17,723,000 after acquiring an additional 103,600 shares in the last quarter. Acadian Asset Management LLC boosted its stake in SFL by 151.8% in the second quarter. Acadian Asset Management LLC now owns 321,211 shares of the shipping company's stock valued at $4,449,000 after acquiring an additional 193,648 shares in the last quarter. American Century Companies Inc. grew its holdings in SFL by 19.8% in the second quarter. American Century Companies Inc. now owns 2,803,656 shares of the shipping company's stock worth $38,915,000 after purchasing an additional 462,789 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new position in shares of SFL during the second quarter worth $1,139,000. 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.