Analysts expect SFL Co. Ltd. (NYSE:SFL – Get Rating) to post $138.07 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for SFL’s earnings. The highest sales estimate is $140.13 million and the lowest is $136.00 million. SFL reported sales of $109.13 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 26.5%. The firm is expected to issue its next earnings results on Monday, January 1st.
On average, analysts expect that SFL will report full year sales of $568.83 million for the current financial year, with estimates ranging from $547.60 million to $590.06 million. For the next financial year, analysts forecast that the company will report sales of $566.02 million, with estimates ranging from $535.00 million to $597.04 million. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for SFL.
SFL (NYSE:SFL – Get Rating) last posted its quarterly earnings data on Wednesday, February 16th. The shipping company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. SFL had a net margin of 32.01% and a return on equity of 12.77%. The firm had revenue of $151.10 million during the quarter, compared to analyst estimates of $153.21 million. During the same quarter last year, the business posted $0.17 EPS. The company’s revenue was up 31.5% on a year-over-year basis.
A number of equities research analysts have issued reports on the stock. Jefferies Financial Group increased their target price on shares of SFL from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, February 17th. DNB Markets downgraded shares of SFL from a “buy” rating to a “hold” rating in a research report on Friday, February 18th. StockNews.com assumed coverage on shares of SFL in a research report on Thursday, March 31st. They issued a “hold” rating for the company. TheStreet upgraded shares of SFL from a “c-” rating to a “b” rating in a research report on Wednesday, February 16th. Finally, Zacks Investment Research downgraded shares of SFL from a “hold” rating to a “sell” rating in a research report on Tuesday, February 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $9.75.
SFL stock opened at $10.24 on Friday. SFL has a 52 week low of $6.67 and a 52 week high of $10.66. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.60 and a current ratio of 0.63. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 7.82 and a beta of 0.78. The company has a 50 day moving average price of $9.68 and a 200 day moving average price of $8.78.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 29th. Stockholders of record on Wednesday, March 16th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, March 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 7.81%. This is an increase from SFL’s previous quarterly dividend of $0.18. SFL’s dividend payout ratio (DPR) is currently 61.07%.
Several institutional investors have recently added to or reduced their stakes in SFL. Morgan Stanley raised its holdings in shares of SFL by 206.5% during the 2nd quarter. Morgan Stanley now owns 1,337,357 shares of the shipping company’s stock valued at $10,231,000 after purchasing an additional 901,063 shares in the last quarter. Parametric Portfolio Associates LLC raised its holdings in SFL by 49.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 256,030 shares of the shipping company’s stock worth $1,959,000 after acquiring an additional 85,204 shares during the period. International Assets Investment Management LLC raised its holdings in SFL by 7.0% in the 3rd quarter. International Assets Investment Management LLC now owns 23,342 shares of the shipping company’s stock worth $196,000 after acquiring an additional 1,527 shares during the period. Sigma Planning Corp bought a new position in SFL in the 3rd quarter worth $936,000. Finally, SG Americas Securities LLC bought a new position in SFL in the 3rd quarter worth $387,000. Institutional investors and hedge funds own 29.69% 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 is also involved in the charter, purchase, and sale of assets. In addition, it operates in various sectors of the maritime, and shipping and offshore industries, including oil, chemical, oil product, container, and car transportation, as well as dry bulk shipments and drilling rigs.