Frontline PLC (NYSE:FRO) Given Average Rating of “Hold” by Analysts

Shares of Frontline PLC (NYSE:FRO) have earned an average recommendation of “Hold” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $24.6225.

Several brokerages have commented on FRO. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Frontline in a report on Monday. Evercore ISI upped their price target on shares of Frontline from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Jefferies Financial Group increased their price objective on Frontline from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, November 21st. Wall Street Zen upgraded Frontline from a “sell” rating to a “hold” rating in a research report on Friday, September 26th. Finally, BTIG Research raised their price target on Frontline from $25.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, September 17th.

Frontline Stock Down 0.0%

FRO opened at $22.75 on Thursday. The company’s 50-day moving average price is $23.73 and its two-hundred day moving average price is $21.10. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.27. Frontline has a twelve month low of $12.40 and a twelve month high of $26.00. The stock has a market cap of $5.06 billion, a price-to-earnings ratio of 23.21 and a beta of 0.06.

Frontline (NYSE:FRO) last released its quarterly earnings data on Friday, November 21st. The shipping company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.04). The business had revenue of $257.04 million for the quarter, compared to analysts’ expectations of $265.23 million. Frontline had a net margin of 12.23% and a return on equity of 8.89%. During the same period last year, the company earned $0.34 earnings per share. As a group, equities analysts expect that Frontline will post 1.78 earnings per share for the current year.

Frontline Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 12th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, December 12th. Frontline’s dividend payout ratio is currently 146.94%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Financial Gravity Companies Inc. purchased a new position in Frontline in the 2nd quarter worth approximately $25,000. SVB Wealth LLC bought a new position in shares of Frontline in the first quarter worth approximately $32,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Frontline in the second quarter worth $33,000. Bayforest Capital Ltd purchased a new position in shares of Frontline in the first quarter worth $34,000. Finally, Sunbelt Securities Inc. bought a new stake in Frontline during the 3rd quarter valued at $41,000. 22.70% of the stock is owned by institutional investors.

About Frontline

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.