SFL (NYSE:SFL) Issues Quarterly Earnings Results

SFL (NYSE:SFL) issued its earnings results on Wednesday. The shipping company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03), Briefing.com reports. SFL had a return on equity of 14.96% and a net margin of 16.03%. The business had revenue of $255.30 million for the quarter, compared to analyst estimates of $243.98 million. During the same period last year, the company posted $0.23 earnings per share. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis.

SFL Price Performance

Shares of NYSE:SFL traded down $0.26 during trading on Friday, reaching $10.30. The company had a trading volume of 1,585,360 shares, compared to its average volume of 837,400. SFL has a twelve month low of $10.12 and a twelve month high of $14.62. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.34 and a current ratio of 0.34. The firm has a market capitalization of $1.43 billion, a PE ratio of 9.28 and a beta of 0.68. The firm’s fifty day moving average is $11.19 and its 200 day moving average is $12.42.

SFL Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $0.27 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.08 dividend on an annualized basis and a yield of 10.49%. SFL’s dividend payout ratio is presently 97.30%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SFL. StockNews.com upgraded shares of SFL from a “hold” rating to a “buy” rating in a research note on Tuesday, July 16th. Pareto Securities raised SFL from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th.

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.