SFL (NYSE:SFL) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS

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

SFL Stock Down 2.5 %

SFL stock traded down $0.26 during trading on Friday, reaching $10.30. The stock had a trading volume of 1,585,360 shares, compared to its average volume of 837,400. SFL has a one year low of $10.12 and a one year high of $14.62. The company’s 50 day moving average is $11.19 and its two-hundred day moving average is $12.42. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 1.65. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 9.28 and a beta of 0.68.

SFL Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 10.49%. The ex-dividend date is Friday, December 13th. SFL’s dividend payout ratio (DPR) is presently 97.30%.

Wall Street Analysts Forecast Growth

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

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.