Frontline plc (NYSE:FRO) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Shares of Frontline plc (NYSE:FRO - Get Free Report) have been assigned an average rating of "Moderate Buy" from the six research firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $24.03.

Several research analysts recently commented on FRO shares. Fearnley Fonds raised Frontline to a "strong-buy" rating in a research report on Friday, September 27th. Kepler Capital Markets downgraded shares of Frontline from a "buy" rating to a "hold" rating and set a $15.83 price objective for the company. in a report on Thursday, December 12th. BTIG Research raised shares of Frontline from a "neutral" rating to a "buy" rating and set a $30.00 target price on the stock in a research note on Monday, October 7th. Finally, Jefferies Financial Group cut their price target 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.

Institutional Investors Weigh In On Frontline

A number of hedge funds and other institutional investors have recently bought and sold shares of FRO. Godsey & Gibb Inc. bought a new stake in shares of Frontline during the third quarter worth $25,000. Ashton Thomas Private Wealth LLC bought a new stake in Frontline during the 2nd quarter worth about $31,000. Blue Trust Inc. increased its position in Frontline by 124.4% in the 3rd quarter. Blue Trust Inc. now owns 4,837 shares of the shipping company's stock valued at $111,000 after acquiring an additional 2,681 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Frontline by 4,965.6% in the second quarter. EverSource Wealth Advisors LLC now owns 4,711 shares of the shipping company's stock worth $116,000 after acquiring an additional 4,618 shares during the last quarter. Finally, U S Global Investors Inc. acquired a new position in shares of Frontline during the third quarter worth approximately $135,000. 22.70% of the stock is owned by institutional investors and hedge funds.

Frontline Stock Performance

Shares of FRO traded down $0.05 during trading hours on Thursday, reaching $15.85. 6,185,448 shares of the company traded hands, compared to its average volume of 4,257,010. Frontline has a 1-year low of $13.17 and a 1-year high of $29.39. The stock has a market cap of $3.53 billion, a P/E ratio of 6.47 and a beta of 0.01. The stock's fifty day moving average is $16.43 and its 200 day moving average is $20.98. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.43 and a current ratio of 1.43.

Frontline (NYSE:FRO - Get Free Report) last posted its quarterly 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 net margin of 25.64% and a return on equity of 19.25%. During the same period last year, the firm posted $0.36 earnings per share. Equities research analysts anticipate that Frontline will post 1.83 earnings per share 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 paid a dividend of $0.34 per share. The ex-dividend date was Wednesday, December 11th. This represents a $1.36 annualized dividend and a yield of 8.58%. Frontline's dividend payout ratio is 55.51%.

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.