SFL (NYSE:SFL) Upgraded to Strong-Buy at Fearnley Fonds

Fearnley Fonds upgraded shares of SFL (NYSE:SFL - Free Report) from a hold rating to a strong-buy rating in a research note published on Thursday,Zacks.com reports.

Separately, Pareto Securities raised SFL from a "hold" rating to a "buy" rating in a research note on Tuesday, August 20th.

SFL Stock Performance

Shares of NYSE:SFL traded up $0.12 during midday trading on Thursday, reaching $11.01. 434,843 shares of the company traded hands, compared to its average volume of 842,020. SFL has a 12 month low of $10.01 and a 12 month high of $14.62. The firm's fifty day moving average price is $11.05 and its two-hundred day moving average price is $12.25. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 1.93. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 9.86 and a beta of 0.68.

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

SFL Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $0.27 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.08 annualized dividend and a dividend yield of 9.81%. SFL's payout ratio is currently 97.30%.

Institutional Trading of SFL

Several hedge funds and other institutional investors have recently made changes to their positions in SFL. Vanguard Group Inc. boosted its stake in SFL by 7.1% during the 1st quarter. Vanguard Group Inc. now owns 1,348,021 shares of the shipping company's stock valued at $17,767,000 after purchasing an additional 89,300 shares during the last quarter. SG Americas Securities LLC boosted its stake 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 worth $838,000 after buying an additional 45,638 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of SFL by 8.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,276,865 shares of the shipping company's stock worth $17,723,000 after buying an additional 103,600 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of SFL by 151.8% in the 2nd quarter. Acadian Asset Management LLC now owns 321,211 shares of the shipping company's stock worth $4,449,000 after buying an additional 193,648 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of SFL by 19.8% in the 2nd quarter. American Century Companies Inc. now owns 2,803,656 shares of the shipping company's stock worth $38,915,000 after buying an additional 462,789 shares during the last quarter. 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.