Frontline plc to Issue Quarterly Dividend of $0.20 (NYSE:FRO)

Frontline plc (NYSE:FRO - Get Free Report) declared a quarterly dividend on Friday, February 28th, NASDAQ Dividends reports. Investors of record on Friday, March 14th will be paid a dividend of 0.20 per share by the shipping company on Monday, March 31st. This represents a $0.80 annualized dividend and a yield of 5.06%. The ex-dividend date of this dividend is Friday, March 14th.

Frontline has a dividend payout ratio of 25.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Frontline to earn $2.34 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 34.2%.

Frontline Price Performance

NYSE:FRO traded down $0.79 during mid-day trading on Wednesday, reaching $15.82. 3,058,074 shares of the company were exchanged, compared to its average volume of 2,167,517. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 1.44. The stock has a market cap of $3.52 billion and a PE ratio of 6.46. The company has a fifty day moving average of $16.55 and a 200 day moving average of $19.04. Frontline has a 12 month low of $13.17 and a 12 month high of $29.39.

Frontline (NYSE:FRO - Get Free Report) last posted its quarterly earnings data on Friday, February 28th. The shipping company reported $0.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.20. The firm had revenue of $425.60 million for the quarter, compared to the consensus estimate of $273.16 million. Frontline had a return on equity of 19.25% and a net margin of 25.64%. The business's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 EPS. On average, research analysts anticipate that Frontline will post 1.78 EPS for the current fiscal year.

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Analysts Set New Price Targets

Several equities analysts recently issued reports on FRO shares. Jefferies Financial Group decreased their price target on Frontline from $26.00 to $20.00 and set a "buy" rating on the stock in a report on Tuesday, December 17th. Kepler Capital Markets downgraded shares of Frontline from a "buy" rating to a "hold" rating and set a $15.83 target price on the stock. in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $24.46.

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.