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

Shares of Frontline PLC (NYSE:FRO) have been assigned a consensus rating of “Hold” from the six ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $24.6225.

FRO has been the topic of a number of recent research reports. Wall Street Zen raised Frontline from a “sell” rating to a “hold” rating in a research report on Friday, September 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Frontline in a research report on Monday, December 22nd. Jefferies Financial Group raised their price target on shares of Frontline from $28.00 to $30.00 and gave the company a “buy” rating in a report on Friday, November 21st. Evercore ISI lifted their price objective on shares of Frontline from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. Finally, Clarkson Capital upgraded shares of Frontline to a “hold” rating in a research note on Monday, November 24th.

Frontline Stock Performance

Shares of FRO stock opened at $21.85 on Monday. The firm has a market cap of $4.86 billion, a price-to-earnings ratio of 22.29 and a beta of 0.06. Frontline has a 52-week low of $12.40 and a 52-week high of $26.00. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.27. The company’s 50 day moving average is $23.59 and its 200 day moving average is $21.47.

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

Frontline Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 12th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Friday, December 12th. Frontline’s dividend payout ratio is currently 77.55%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FRO. Vanguard Personalized Indexing Management LLC grew its stake in shares of Frontline by 2.9% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 14,717 shares of the shipping company’s stock worth $335,000 after acquiring an additional 418 shares during the last quarter. Cantor Fitzgerald L. P. boosted its stake in Frontline by 1.1% in the 3rd quarter. Cantor Fitzgerald L. P. now owns 38,601 shares of the shipping company’s stock worth $880,000 after purchasing an additional 430 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in Frontline by 3.5% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 16,204 shares of the shipping company’s stock worth $369,000 after purchasing an additional 552 shares during the last quarter. TD Asset Management Inc increased its stake in Frontline by 6.3% during the 3rd quarter. TD Asset Management Inc now owns 18,163 shares of the shipping company’s stock valued at $415,000 after purchasing an additional 1,084 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of Frontline by 17.5% in the second quarter. Steward Partners Investment Advisory LLC now owns 9,730 shares of the shipping company’s stock worth $160,000 after buying an additional 1,447 shares during the last quarter. 22.70% of the stock is currently owned by hedge funds and other institutional investors.

About Frontline

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.