Frontline PLC (NYSE:FRO) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Frontline PLC (NYSE:FRO) has been given an average recommendation of “Moderate Buy” by the six ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $25.8725.

Several brokerages recently issued reports on FRO. Evercore boosted their price target on Frontline from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Jefferies Financial Group increased their target price on Frontline from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, November 21st. BTIG Research raised their price target on Frontline from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Clarkson Capital raised Frontline from a “neutral” rating to a “buy” rating in a research note on Monday, January 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Frontline in a research note on Monday, December 29th.

Frontline Trading Up 4.1%

FRO stock opened at $30.90 on Tuesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.37 and a current ratio of 1.37. The company’s 50-day simple moving average is $25.11 and its 200 day simple moving average is $23.48. Frontline has a 52 week low of $12.40 and a 52 week high of $30.96. The company has a market capitalization of $6.88 billion, a PE ratio of 31.53 and a beta of 0.07.

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

Frontline Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 12th were given a dividend of $0.19 per share. The ex-dividend date was Friday, December 12th. This represents a $0.76 annualized dividend and a dividend yield of 2.5%. Frontline’s dividend payout ratio (DPR) is currently 77.55%.

Institutional Investors Weigh In On Frontline

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Financial Gravity Companies Inc. bought a new position in shares of Frontline in the 2nd quarter valued at $25,000. Sunbelt Securities Inc. bought a new position in Frontline in the third quarter valued at about $41,000. Sound Income Strategies LLC acquired a new position in Frontline during the fourth quarter worth about $53,000. CIBC Private Wealth Group LLC acquired a new position in Frontline during the third quarter worth about $80,000. Finally, Triumph Capital Management bought a new position in shares of Frontline in the third quarter worth about $97,000. 22.70% of the stock is currently owned by institutional investors.

Frontline Company Profile

Frontline Ltd. (NYSE:FRO) is a leading global shipping company specializing in the seaborne transportation of crude oil and petroleum products. The company’s core business activities encompass the ownership and operation of very large crude carriers (VLCCs), Suezmax tankers and Aframax vessels. Through long-term charters, spot market operations and time charters, Frontline provides flexible shipping solutions that cater to a diverse set of energy producers, refiners and trading houses worldwide.

Frontline’s fleet is geared toward high-capacity, ocean-going tankers capable of carrying large volumes of crude oil over intercontinental distances.