Frontline PLC (NYSE:FRO - Get Free Report) shares reached a new 52-week high on Thursday . The stock traded as high as $24.34 and last traded at $24.37, with a volume of 2927483 shares traded. The stock had previously closed at $23.59.
Wall Street Analyst Weigh In
Several research analysts have weighed in on FRO shares. Weiss Ratings reiterated a "hold (c+)" rating on shares of Frontline in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Frontline from a "sell" rating to a "hold" rating in a research report on Friday, September 26th. BTIG Research increased their price target on shares of Frontline from $25.00 to $30.00 and gave the stock a "buy" rating in a research report on Wednesday, September 17th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $25.00 price target on shares of Frontline in a research report on Friday, August 29th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $21.87.
Read Our Latest Research Report on FRO
Frontline Trading Up 3.5%
The stock's 50 day moving average price is $22.12 and its 200-day moving average price is $19.14. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $5.44 billion, a PE ratio of 22.82 and a beta of 0.20.
Frontline (NYSE:FRO - Get Free Report) last announced its quarterly earnings data on Friday, August 29th. The shipping company reported $0.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.06). The firm had revenue of $282.95 million during the quarter, compared to analysts' expectations of $328.71 million. Frontline had a return on equity of 10.27% and a net margin of 12.94%.The business's revenue for the quarter was up 34.2% on a year-over-year basis. During the same period last year, the company earned $0.62 earnings per share. On average, sell-side analysts expect that Frontline PLC will post 1.78 earnings per share for the current fiscal year.
Frontline Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 24th. Investors of record on Friday, September 12th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 5.9%. The ex-dividend date of this dividend was Friday, September 12th. Frontline's dividend payout ratio (DPR) is presently 134.58%.
Hedge Funds Weigh In On Frontline
Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Frontline by 1.0% during the first quarter. Vanguard Group Inc. now owns 5,547,556 shares of the shipping company's stock valued at $81,538,000 after acquiring an additional 54,471 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Frontline by 64.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 118,566 shares of the shipping company's stock valued at $1,761,000 after acquiring an additional 46,594 shares in the last quarter. Summit Securities Group LLC grew its stake in Frontline by 5,771.9% during the first quarter. Summit Securities Group LLC now owns 46,975 shares of the shipping company's stock valued at $698,000 after acquiring an additional 46,175 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Frontline by 691.5% during the second quarter. Farther Finance Advisors LLC now owns 12,632 shares of the shipping company's stock valued at $207,000 after acquiring an additional 11,036 shares in the last quarter. Finally, Svenska Handelsbanken AB publ grew its stake in shares of Frontline by 82.7% in the 1st quarter. Svenska Handelsbanken AB publ now owns 54,976 shares of the shipping company's stock worth $803,000 after buying an additional 24,878 shares in the last quarter. 22.70% of the stock is owned by hedge funds and other institutional investors.
About Frontline
(
Get Free Report)
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.
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