Frontline (NYSE:FRO) Reaches New 1-Year Low - Should You Sell?

Shares of Frontline plc (NYSE:FRO - Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $13.35 and last traded at $13.36, with a volume of 1099048 shares traded. The stock had previously closed at $13.78.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. BTIG Research upgraded Frontline from a "neutral" rating to a "buy" rating and set a $30.00 price target on the stock in a research note on Monday, October 7th. StockNews.com upgraded shares of Frontline to a "sell" rating in a research report on Thursday, September 5th. Fearnley Fonds upgraded shares of Frontline to a "strong-buy" rating in a report on Friday, September 27th. 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 note on Thursday, December 12th. Finally, Jefferies Financial Group lowered their target price on shares of Frontline from $26.00 to $20.00 and set a "buy" rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.36.

Frontline Trading Down 3.2 %

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 cap of $2.97 billion and a price-to-earnings ratio of 5.44. The business's 50-day moving average price is $18.43 and its two-hundred day moving average price is $22.17.

Frontline (NYSE:FRO - Get Free Report) last released its 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 return on equity of 19.25% and a net margin of 25.64%. During the same quarter in the previous year, the firm earned $0.36 earnings per share. Equities analysts expect that Frontline plc will post 1.83 earnings per share for the current year.

Frontline Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, December 11th will be given a dividend of $0.34 per share. The ex-dividend date is Wednesday, December 11th. This represents a $1.36 annualized dividend and a yield of 10.19%. Frontline's dividend payout ratio (DPR) is presently 55.51%.

Institutional Investors Weigh In On Frontline

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

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.