Frontline plc (NYSE:FRO - Get Free Report) has been given a consensus rating of "Moderate Buy" by the five brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $24.46.
FRO has been the subject of several analyst reports. Jefferies Financial Group cut their target price on shares of 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 lowered shares of Frontline from a "hold" rating to a "strong sell" rating in a research report on Thursday, March 27th.
Check Out Our Latest Analysis on Frontline
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the stock. IHT Wealth Management LLC grew its holdings in 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 purchasing an additional 535 shares during the period. Swiss National Bank boosted its holdings in shares of Frontline by 0.6% in the 4th quarter. Swiss National Bank now owns 286,612 shares of the shipping company's stock valued at $3,953,000 after purchasing an additional 1,845 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Frontline during the 4th quarter valued at $31,000. Pictet Asset Management Holding SA increased its holdings in shares of Frontline by 13.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 19,900 shares of the shipping company's stock worth $274,000 after buying an additional 2,313 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Frontline by 0.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 530,046 shares of the shipping company's stock worth $7,526,000 after buying an additional 2,576 shares during the period. Institutional investors and hedge funds own 22.70% of the company's stock.
Frontline Price Performance
Shares of FRO traded down $0.29 during mid-day trading on Friday, reaching $14.74. 985,796 shares of the company's stock were exchanged, compared to its average volume of 3,413,209. Frontline has a 52-week low of $13.17 and a 52-week high of $29.39. 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 company has a 50-day simple moving average of $16.52 and a two-hundred day simple moving average of $17.98. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 6.02 and a beta of 0.20.
Frontline (NYSE:FRO - Get Free Report) last released its quarterly earnings results on Friday, February 28th. The shipping company reported $0.20 earnings per share for the quarter, hitting the consensus estimate of $0.20. Frontline had a return on equity of 19.25% and a net margin of 25.64%. The company had revenue of $425.60 million during the quarter, compared to the consensus estimate of $273.16 million. During the same quarter last year, the business posted $0.46 earnings per share. Frontline's revenue was up 2.6% compared to the same quarter last year. On average, sell-side analysts predict that Frontline will post 1.78 EPS for the current fiscal year.
Frontline Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 5.43%. The ex-dividend date was Friday, March 14th. Frontline's payout ratio is 36.04%.
Frontline Company Profile
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Get Free ReportFrontline 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.
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