Frontline PLC (NYSE:FRO) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Frontline PLC (NYSE:FRO) have received a consensus recommendation of “Moderate Buy” from the five analysts that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $20.62.

Several equities analysts have recently commented on FRO shares. Evercore ISI dropped their target price on shares of Frontline from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. Kepler Capital Markets set a $12.49 target price on shares of Frontline in a research report on Thursday, March 27th. Finally, Wall Street Zen cut shares of Frontline from a “hold” rating to a “sell” rating in a research report on Sunday.

Institutional Investors Weigh In On Frontline

Institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its holdings in Frontline by 65.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 71,972 shares of the shipping company’s stock worth $1,021,000 after acquiring an additional 28,478 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in Frontline during the 4th quarter worth approximately $424,000. Dynamic Technology Lab Private Ltd bought a new stake in Frontline during the 4th quarter worth approximately $342,000. Tejara Capital Ltd bought a new stake in Frontline during the 4th quarter worth approximately $633,000. Finally, Discovery Capital Management LLC CT bought a new stake in Frontline during the 4th quarter worth approximately $3,548,000. 22.70% of the stock is owned by institutional investors.

Frontline Price Performance

Shares of NYSE:FRO opened at $17.43 on Monday. The firm has a 50 day moving average of $17.83 and a 200-day moving average of $16.58. The stock has a market capitalization of $3.88 billion, a PE ratio of 11.17 and a beta of 0.25. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 1.44. Frontline has a 12 month low of $12.40 and a 12 month high of $25.68.

Frontline (NYSE:FRO) last issued its earnings results on Friday, May 23rd. The shipping company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $427.87 million during the quarter, compared to analysts’ expectations of $252.26 million. Frontline had a net margin of 17.67% and a return on equity of 12.67%. The business’s revenue for the quarter was down 26.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.62 EPS. On average, equities research analysts predict that Frontline will post 1.78 EPS for the current fiscal year.

Frontline Announces Dividend

The business also recently declared a dividend, which was paid on Tuesday, June 24th. Investors of record on Friday, June 13th were issued a dividend of $0.18 per share. This represents a dividend yield of 3.97%. The ex-dividend date of this dividend was Thursday, June 12th. Frontline’s dividend payout ratio (DPR) is presently 46.15%.

Frontline Company Profile

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.