Frontline PLC (NYSE:FRO) Receives $21.87 Average Price Target from Analysts

Shares of Frontline PLC (NYSE:FRO) have earned an average recommendation of “Moderate Buy” from the five research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $21.8725.

A number of research analysts have weighed in on FRO shares. BTIG Research raised their target price on shares of Frontline from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, September 17th. Wall Street Zen lowered shares of Frontline from a “hold” rating to a “sell” rating in a research note on Sunday, July 6th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $25.00 target price on shares of Frontline in a research note on Friday, August 29th.

Institutional Trading of Frontline

Several institutional investors have recently made changes to their positions in FRO. Northern Trust Corp raised its position in shares of Frontline by 16.5% during the 4th quarter. Northern Trust Corp now owns 83,483 shares of the shipping company’s stock valued at $1,185,000 after buying an additional 11,843 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of Frontline during the 4th quarter valued at approximately $424,000. Bank of America Corp DE increased its holdings in Frontline by 153.1% in the 4th quarter. Bank of America Corp DE now owns 228,843 shares of the shipping company’s stock valued at $3,247,000 after purchasing an additional 138,426 shares during the last quarter. Vident Advisory LLC increased its holdings in Frontline by 62.7% in the 4th quarter. Vident Advisory LLC now owns 28,503 shares of the shipping company’s stock valued at $404,000 after purchasing an additional 10,982 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Frontline by 69.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 164,856 shares of the shipping company’s stock valued at $2,339,000 after purchasing an additional 67,445 shares during the last quarter. Hedge funds and other institutional investors own 22.70% of the company’s stock.

Frontline Trading Down 0.5%

FRO stock opened at $23.11 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 1.38. Frontline has a 12-month low of $12.40 and a 12-month high of $25.68. The stock has a market cap of $5.14 billion, a price-to-earnings ratio of 21.59 and a beta of 0.25. The business’s 50-day moving average is $20.32 and its 200 day moving average is $18.04.

Frontline (NYSE:FRO) last posted its quarterly earnings data on Friday, August 29th. The shipping company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.06). Frontline had a return on equity of 10.27% and a net margin of 12.94%.The firm had revenue of $282.95 million during the quarter, compared to analyst estimates of $328.71 million. During the same quarter in the previous year, the firm posted $0.62 earnings per share. The company’s quarterly revenue was up 34.2% on a year-over-year basis. On average, sell-side analysts anticipate that Frontline will post 1.78 EPS for the current fiscal year.

Frontline Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Friday, September 12th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 6.2%. The ex-dividend date of this dividend is Friday, September 12th. Frontline’s payout ratio is presently 134.58%.

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.