Frontline (NYSE:FRO) Price Target Lowered to $20.00 at Jefferies Financial Group

Frontline (NYSE:FRO - Free Report) had its price target reduced by Jefferies Financial Group from $26.00 to $20.00 in a research report report published on Tuesday,Benzinga reports. They currently have a buy rating on the shipping company's stock.

FRO has been the topic of a number of other research reports. Fearnley Fonds raised Frontline to a "strong-buy" rating in a research report on Friday, September 27th. BTIG Research upgraded shares of Frontline from a "neutral" rating to a "buy" rating and set a $30.00 price target for the company in a report on Monday, October 7th. Kepler Capital Markets cut shares of Frontline from a "buy" rating to a "hold" rating and set a $15.83 price objective for the company. in a research report on Thursday, December 12th. Finally, StockNews.com raised Frontline to a "sell" rating in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Frontline has an average rating of "Moderate Buy" and an average target price of $24.36.

Frontline Stock Up 0.1 %

Shares of NYSE FRO traded up $0.01 during midday trading on Tuesday, hitting $13.82. The company's stock had a trading volume of 2,979,707 shares, compared to its average volume of 1,991,697. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a market capitalization of $3.08 billion and a price-to-earnings ratio of 5.64. The business's fifty day simple moving average is $19.09 and its two-hundred day simple moving average is $22.39. Frontline has a 1 year low of $13.41 and a 1 year high of $29.39.

Frontline (NYSE:FRO - Get Free Report) last issued its quarterly earnings results on Wednesday, November 27th. The shipping company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.05). Frontline had a net margin of 25.64% and a return on equity of 19.25%. During the same quarter in the previous year, the firm posted $0.36 earnings per share. On average, equities analysts predict that Frontline will post 1.83 EPS for the current year.

Frontline Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, December 11th will be given a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $1.36 dividend on an annualized basis and a yield of 9.84%. Frontline's dividend payout ratio (DPR) is presently 55.51%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Private Advisor Group LLC increased its holdings in shares of Frontline by 4.8% in the 3rd quarter. Private Advisor Group LLC now owns 10,625 shares of the shipping company's stock valued at $243,000 after acquiring an additional 490 shares during the period. IHT Wealth Management LLC raised its holdings in shares of Frontline by 3.5% in the third quarter. IHT Wealth Management LLC now owns 15,723 shares of the shipping company's stock valued at $359,000 after buying an additional 535 shares during the last quarter. Summit Securities Group LLC boosted its stake in shares of Frontline by 75.0% during the second quarter. Summit Securities Group LLC now owns 1,400 shares of the shipping company's stock worth $36,000 after buying an additional 600 shares during the period. Cozad Asset Management Inc. boosted its stake in shares of Frontline by 6.4% during the second quarter. Cozad Asset Management Inc. now owns 12,976 shares of the shipping company's stock worth $334,000 after buying an additional 785 shares during the period. Finally, TD Asset Management Inc grew its holdings in shares of Frontline by 9.7% during the second quarter. TD Asset Management Inc now owns 9,840 shares of the shipping company's stock worth $258,000 after buying an additional 871 shares during the last quarter. Institutional investors and hedge funds own 22.70% of the company's stock.

Frontline Company Profile

Frontline plc, a shipping company, engages in the seaborne transportation of crude oil and oil products worldwide. It owns and operates oil and product tankers. As of December 31, 2022, the company operated a fleet of 70 vessels. It is also involved in the charter, purchase, and sale of vessels. The company was founded in 1985 and is based in Limassol, Cyprus.