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

Shares of Frontline PLC (NYSE:FRO) have received a consensus rating of “Hold” from the nine brokerages that are covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $39.1150.

Several analysts have recently issued reports on FRO shares. Danske cut shares of Frontline to a “hold” rating in a research report on Tuesday. Pareto Securities cut Frontline from a “buy” rating to a “hold” rating and set a $39.46 price objective on the stock. in a research note on Monday. Weiss Ratings upgraded Frontline from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, May 22nd. BTIG Research raised their price objective on Frontline from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Finally, Wall Street Zen upgraded Frontline from a “hold” rating to a “buy” rating in a report on Saturday, April 4th.

Frontline Stock Down 3.1%

NYSE FRO opened at $35.45 on Thursday. The stock has a 50 day moving average price of $35.82 and a 200-day moving average price of $30.12. Frontline has a one year low of $16.25 and a one year high of $39.89. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.19 and a current ratio of 1.43. The company has a market capitalization of $7.89 billion, a P/E ratio of 20.85 and a beta of 0.04.

Frontline (NYSE:FRO) last released its quarterly earnings results on Friday, May 22nd. The shipping company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.07. Frontline had a net margin of 19.31% and a return on equity of 16.51%. The company had revenue of $714.24 million for the quarter, compared to the consensus estimate of $579.59 million. During the same quarter in the prior year, the firm earned $0.18 earnings per share. Frontline’s revenue was up 66.9% on a year-over-year basis.

Frontline Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Friday, June 12th will be given a $1.55 dividend. This is a boost from Frontline’s previous quarterly dividend of $1.03. This represents a $6.20 dividend on an annualized basis and a yield of 17.5%. The ex-dividend date is Friday, June 12th. Frontline’s dividend payout ratio is 242.35%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FRO. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Frontline in the fourth quarter valued at $25,000. Assetmark Inc. boosted its stake in shares of Frontline by 278.6% during the 1st quarter. Assetmark Inc. now owns 973 shares of the shipping company’s stock worth $34,000 after purchasing an additional 716 shares during the period. Sunbelt Securities Inc. purchased a new position in shares of Frontline during the 3rd quarter worth about $41,000. Parallel Advisors LLC grew its holdings in Frontline by 58.9% during the 1st quarter. Parallel Advisors LLC now owns 1,311 shares of the shipping company’s stock valued at $46,000 after purchasing an additional 486 shares during the last quarter. Finally, NFSG Corp grew its holdings in Frontline by 50.0% during the 1st quarter. NFSG Corp now owns 1,500 shares of the shipping company’s stock valued at $52,000 after purchasing an additional 500 shares during the last quarter. Institutional investors own 22.70% of the company’s stock.

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.