Frontline (NYSE:FRO) Shares Down 4.8% - Time to Sell?

Frontline plc (NYSE:FRO - Get Free Report)'s stock price traded down 4.8% during trading on Tuesday . The company traded as low as $13.77 and last traded at $13.61. 392,264 shares were traded during mid-day trading, a decline of 83% from the average session volume of 2,310,832 shares. The stock had previously closed at $14.29.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group cut their target price on Frontline from $26.00 to $20.00 and set a "buy" rating for the company in a research note on Tuesday, December 17th. Kepler Capital Markets set a $12.49 price objective on Frontline in a research report on Thursday, March 27th. Two analysts have rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Frontline has a consensus rating of "Moderate Buy" and a consensus target price of $23.62.

Frontline Trading Up 10.5 %

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 business has a 50-day moving average price of $15.93 and a two-hundred day moving average price of $17.44. The firm has a market cap of $3.45 billion, a PE ratio of 6.33 and a beta of 0.20.

Frontline (NYSE:FRO - Get Free Report) last issued its quarterly earnings data on Friday, February 28th. The shipping company reported $0.20 earnings per share for the quarter, hitting analysts' consensus estimates of $0.20. Frontline had a net margin of 25.64% and a return on equity of 19.25%. The business had revenue of $425.60 million during the quarter, compared to analysts' expectations of $273.16 million. During the same period last year, the company posted $0.46 EPS. The company's revenue was up 2.6% on a year-over-year basis. Analysts forecast that Frontline plc will post 1.78 EPS for the current year.

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Frontline Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 5.16%. The ex-dividend date was Friday, March 14th. Frontline's payout ratio is 36.04%.

Institutional Investors Weigh In On Frontline

Hedge funds and other institutional investors have recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in Frontline during the fourth quarter worth approximately $341,000. Charles Schwab Investment Management Inc. increased its stake in shares of Frontline by 65.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 71,972 shares of the shipping company's stock valued at $1,021,000 after acquiring an additional 28,478 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of Frontline by 164.0% during the 4th quarter. Private Advisor Group LLC now owns 28,053 shares of the shipping company's stock worth $398,000 after acquiring an additional 17,428 shares during the period. Range Financial Group LLC purchased a new position in shares of Frontline during the 4th quarter worth about $579,000. Finally, Tejara Capital Ltd acquired a new stake in shares of Frontline in the fourth quarter worth approximately $633,000. 22.70% of the stock is currently owned by hedge funds and other institutional investors.

About Frontline

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.