SFL Corporation Ltd. (NYSE: SFL) stock fell -2.08% on Wednesday to $9.91 against a previous-day closing price of $10.12. With 1.03 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.93 million shares. During the session, the Marine Shipping company that operates in wider Industrials sector, reached to the highest price of $10.15 whereas the lowest price it dropped to was $9.88. The 52-week range on SFL shows that it touched its highest point at $11.60 and its lowest point at $7.64 during that stretch. It currently has a 1-year price target of $13.00. With its current market cap of 1.37 billion, SFL has annualized dividend of $0.92 while the current yield stands at 9.28%. Beta for the stock currently stands at 0.83.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SFL was down-trending over the past week, with a drop of -1.88%, but this was down by -0.60% over a month. Three-month performance dropped to -11.91% while six-month performance fell -13.15%. The stock gained 18.40% in the past year, while it has gained 21.60% so far this year. A look at the trailing 12-month EPS for SFL yields 1.64 with Next year EPS estimates of 1.11. For the next quarter, that number is 0.26. This implies an EPS growth rate of 157.30% for this year and -7.89% for next year. EPS is expected to decline by -7.70% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -4.70%.
Float and Shares Shorts:
At present, 126.79 million SFL shares are outstanding with a float of 104.73 million shares on hand for trading. On Oct 13, 2022, short shares totaled 2.95 million, which was 2.13% higher than short shares on Sep 14, 2022. In addition to Mr. Ole Bjarte Hjertaker as the firm’s CEO of SFL Management AS & Director, Mr. Aksel C. Olesen serves as its Chief Financial Officer of SFL Management AS.
Through their ownership of 39.33% of SFL’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 18.04% of SFL, in contrast to 14.25% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in SFL with 4.64% of the stake, Dimensional Fund Advisors LP holds 6,425,655 shares worth 6,425,655. A second-largest stockholder of SFL, BlackRock Fund Advisors, holds 4,963,930 shares, controlling over 3.58% of the firm’s shares. Fidelity Management & Research Co is the third largest shareholder in SFL, holding 3,367,945 shares or 2.43% stake. With a 1.88% stake in SFL, the iShares Russell 2000 ETF is the largest stakeholder. A total of 2,610,087 shares are owned by the mutual fund manager. The DFA US Small Cap Value Portfolio, which owns about 1.07% of SFL stock, is the second-largest Mutual Fund holder. It holds 1,484,064 shares valued at 15.14 million. iShares Russell 2000 Value ETF holds 0.85% of the stake in SFL, owning 1,180,185 shares worth 12.04 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SFL since 5 analysts follow the stock currently. There are 3 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With SFL analysts setting a high price target of $13.50 and a low target of $11.00, the average target price over the next 12 months is $12.20. Based on these targets, SFL could surge 36.23% to reach the target high and rise by 11.0% to reach the target low. Reaching the average price target will result in a growth of 23.11% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. SFL will report FY 2022 earnings on 02/28/2023. Analysts have provided yearly estimates in a range of $1.49 being high and $1.11 being low. For SFL, this leads to a yearly average estimate of $1.36. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. SFL Corporation Ltd. surprised analysts by $0.14 when it reported $0.36 EPS against a consensus estimate of $0.22. The surprise factor in the prior quarter was $0.20. Based on analyst estimates, the high estimate for the next quarter is $0.40 and the low estimate is $0.23. The average estimate for the next quarter is thus $0.29.