Frontline Ltd. (fro) Declares Quarterly Dividend of $0.10
Frontline Ltd. (NYSE:fro) announced a quarterly dividend on Wednesday, November 30th. Stockholders of record on Thursday, December 15th will be given a dividend of 0.10 per share on Thursday, December 22nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.69%. The ex-dividend date of this dividend is Tuesday, December 13th.
Shares of Frontline (NYSE:FRO) opened at 7.03 on Thursday. Frontline has a 52-week low of $6.80 and a 52-week high of $16.40. The stock has a 50 day moving average price of $7.49 and a 200-day moving average price of $7.81. The firm has a market capitalization of $1.10 billion, a PE ratio of 4.60 and a beta of 2.55.
Frontline (NYSE:FRO) last announced its quarterly earnings data on Tuesday, November 29th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.06. Frontline had a return on equity of 16.87% and a net margin of 28.17%. Equities analysts forecast that Frontline will post $0.95 EPS for the current year.
Hedge funds have recently modified their holdings of the company. Two Sigma Advisers LP bought a new stake in shares of Frontline during the third quarter worth approximately $108,000. BlackRock Inc. raised its stake in shares of Frontline by 551.1% in the second quarter. BlackRock Inc. now owns 15,015 shares of the company’s stock worth $119,000 after buying an additional 12,709 shares in the last quarter. BlackRock Advisors LLC raised its stake in shares of Frontline by 44.5% in the second quarter. BlackRock Advisors LLC now owns 21,491 shares of the company’s stock worth $169,000 after buying an additional 6,621 shares in the last quarter. KCG Holdings Inc. bought a new stake in shares of Frontline during the third quarter worth approximately $181,000. Finally, Mackenzie Financial Corp raised its stake in shares of Frontline by 81.1% in the second quarter. Mackenzie Financial Corp now owns 34,404 shares of the company’s stock worth $271,000 after buying an additional 15,407 shares in the last quarter. 7.62% of the stock is owned by hedge funds and other institutional investors.
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FRO has been the topic of a number of recent analyst reports. Morgan Stanley reissued an “equal weight” rating and issued a $7.00 price objective (down from $10.00) on shares of Frontline in a research note on Friday, August 26th. Zacks Investment Research raised Frontline from a “sell” rating to a “hold” rating in a research report on Thursday, October 27th. Finally, Wells Fargo & Co. reaffirmed a “hold” rating on shares of Frontline in a research report on Tuesday, September 27th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $9.88.
Frontline Ltd. is a shipping company. The Company is engaged in the seaborne transportation of crude oil and oil products. The Company operates through the tankers segment. The tankers segment includes crude oil tankers and product tankers. The Company operates through subsidiaries and partnerships located in Bermuda, India, the Philippines, Liberia, Norway, the United Kingdom and Singapore.
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