Frontline PLC (NYSE:FRO) Receives $31.62 Consensus Target Price from Analysts

Frontline PLC (NYSE:FRO) has received an average recommendation of “Hold” from the eight analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $31.6225.

A number of research analysts recently issued reports on FRO shares. BTIG Research raised their price target on Frontline from $35.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Frontline in a report on Monday, December 29th. Dnb Carnegie lowered shares of Frontline from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 2nd. Evercore reaffirmed an “outperform” rating and issued a $42.00 target price on shares of Frontline in a report on Friday, February 27th. Finally, Jefferies Financial Group increased their price target on shares of Frontline from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, November 21st.

Hedge Funds Weigh In On Frontline

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. University of Texas Texas AM Investment Management Co. acquired a new position in Frontline in the 4th quarter valued at about $25,000. Financial Gravity Companies Inc. purchased a new position in shares of Frontline in the 2nd quarter valued at approximately $25,000. Sunbelt Securities Inc. purchased a new position in shares of Frontline in the 3rd quarter valued at approximately $41,000. Sound Income Strategies LLC acquired a new position in shares of Frontline in the fourth quarter valued at approximately $53,000. Finally, CIBC Private Wealth Group LLC acquired a new position in shares of Frontline in the third quarter valued at approximately $80,000. Hedge funds and other institutional investors own 22.70% of the company’s stock.

Frontline Stock Performance

NYSE FRO opened at $31.84 on Friday. The company has a fifty day moving average of $30.23 and a two-hundred day moving average of $25.63. The company has a market capitalization of $7.09 billion and a PE ratio of 18.73. Frontline has a 1 year low of $12.40 and a 1 year high of $39.89. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.43 and a quick ratio of 1.37.

Frontline (NYSE:FRO) last posted its earnings results on Friday, February 27th. The shipping company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.10). Frontline had a return on equity of 16.51% and a net margin of 19.31%.The firm had revenue of $424.51 million for the quarter, compared to analyst estimates of $456.90 million. During the same quarter last year, the firm posted $0.20 EPS. The firm’s revenue for the quarter was up 46.7% on a year-over-year basis. As a group, analysts expect that Frontline will post 1.78 earnings per share for the current year.

Frontline Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, March 12th will be issued a $1.03 dividend. The ex-dividend date of this dividend is Thursday, March 12th. This is a positive change from Frontline’s previous quarterly dividend of $0.19. This represents a $4.12 dividend on an annualized basis and a dividend yield of 12.9%. Frontline’s dividend payout ratio is currently 242.35%.

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.