Frontline plc (NYSE:FRO - Get Free Report)'s share price gapped down prior to trading on Wednesday . The stock had previously closed at $21.24, but opened at $20.25. Frontline shares last traded at $20.32, with a volume of 834,470 shares trading hands.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on FRO shares. Evercore ISI lowered their target price on shares of Frontline from $33.00 to $32.00 and set an "outperform" rating on the stock in a report on Tuesday, July 23rd. StockNews.com upgraded Frontline to a "sell" rating in a research note on Thursday, September 5th. Fearnley Fonds raised Frontline to a "strong-buy" rating in a report on Friday, September 27th. Jefferies Financial Group reaffirmed a "buy" rating and set a $30.00 target price on shares of Frontline in a report on Friday, August 30th. Finally, BTIG Research upgraded Frontline from a "neutral" rating to a "buy" rating and set a $30.00 price target for the company in a research report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $28.06.
Check Out Our Latest Research Report on Frontline
Frontline Stock Down 5.3 %
The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.40. The firm has a market cap of $4.48 billion, a P/E ratio of 7.03 and a beta of 0.04. The company's 50 day simple moving average is $23.31 and its 200-day simple moving average is $24.42.
Frontline (NYSE:FRO - Get Free Report) last released its earnings results on Friday, August 30th. The shipping company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.03). The business had revenue of $409.72 million for the quarter, compared to analysts' expectations of $383.88 million. Frontline had a return on equity of 19.73% and a net margin of 29.42%. During the same quarter in the prior year, the business posted $0.94 EPS. Research analysts forecast that Frontline plc will post 2.62 earnings per share for the current fiscal year.
Frontline Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 12.33%. The ex-dividend date of this dividend was Friday, September 13th. Frontline's dividend payout ratio is currently 86.71%.
Institutional Investors Weigh In On Frontline
A number of institutional investors and hedge funds have recently bought and sold shares of FRO. PNC Financial Services Group Inc. raised its position in shares of Frontline by 1,281.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 24,556 shares of the shipping company's stock valued at $492,000 after purchasing an additional 22,778 shares during the last quarter. Banque Cantonale Vaudoise raised its stake in shares of Frontline by 56.6% in the 1st quarter. Banque Cantonale Vaudoise now owns 5,604 shares of the shipping company's stock valued at $130,000 after acquiring an additional 2,026 shares during the period. Kovack Advisors Inc. purchased a new stake in Frontline during the first quarter worth about $440,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Frontline in the 1st quarter valued at about $1,452,000. Finally, Quantbot Technologies LP raised its stake in Frontline by 184.8% in the first quarter. Quantbot Technologies LP now owns 95,861 shares of the shipping company's stock valued at $2,241,000 after buying an additional 62,206 shares in the last quarter. 22.70% of the stock is owned by institutional investors.
Frontline Company Profile
(
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 "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Click the link below and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
