Frontline plc (NYSE:FRO - Get Free Report) dropped 2.8% on Friday . The company traded as low as $14.26 and last traded at $14.28. Approximately 677,756 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 1,832,947 shares. The stock had previously closed at $14.69.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on FRO. Kepler Capital Markets downgraded Frontline from a "buy" rating to a "hold" rating and set a $15.83 price objective on the stock. in a report on Thursday, December 12th. StockNews.com upgraded Frontline to a "sell" rating in a research report on Thursday, September 5th. BTIG Research upgraded Frontline from a "neutral" rating to a "buy" rating and set a $30.00 price objective for the company in a research note on Monday, October 7th. Jefferies Financial Group reduced their target price on shares of Frontline from $26.00 to $20.00 and set a "buy" rating on the stock in a research note on Tuesday, December 17th. Finally, Fearnley Fonds upgraded shares of Frontline to a "strong-buy" rating in a research report on Friday, September 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $24.36.
Read Our Latest Research Report on FRO
Frontline Stock Performance
The stock has a 50 day moving average price of $16.76 and a two-hundred day moving average price of $21.25. The company has a market capitalization of $3.17 billion and a price-to-earnings ratio of 5.82. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.43 and a quick ratio of 1.43.
Frontline (NYSE:FRO - Get Free Report) last announced its earnings results on Wednesday, November 27th. The shipping company reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates 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 prior year, the company earned $0.36 earnings per share. On average, analysts predict that Frontline plc will post 1.83 EPS for the current fiscal year.
Frontline Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 11th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $1.36 annualized dividend and a yield of 9.54%. Frontline's dividend payout ratio is currently 55.51%.
Institutional Investors Weigh In On Frontline
Institutional investors and hedge funds have recently modified their holdings of the business. Private Advisor Group LLC increased its holdings in Frontline by 4.8% in the third quarter. Private Advisor Group LLC now owns 10,625 shares of the shipping company's stock valued at $243,000 after purchasing an additional 490 shares during the last quarter. IHT Wealth Management LLC raised its position in shares of Frontline by 3.5% in the 3rd quarter. IHT Wealth Management LLC now owns 15,723 shares of the shipping company's stock valued at $359,000 after acquiring an additional 535 shares during the period. Cozad Asset Management Inc. boosted its stake in Frontline by 6.4% during the 2nd quarter. Cozad Asset Management Inc. now owns 12,976 shares of the shipping company's stock worth $334,000 after acquiring an additional 785 shares during the last quarter. TD Asset Management Inc boosted its stake in Frontline by 9.7% during the 2nd quarter. TD Asset Management Inc now owns 9,840 shares of the shipping company's stock worth $258,000 after acquiring an additional 871 shares during the last quarter. Finally, Godsey & Gibb Inc. acquired a new position in Frontline during the third quarter valued at approximately $25,000. 22.70% of the stock is owned by institutional investors.
About Frontline
(
Get Free Report)
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.
Further Reading
Before you consider Frontline, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Frontline wasn't on the list.
While Frontline currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Click the link below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
