Frontline plc (NYSE:FRO - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $19.74, but opened at $19.21. Frontline shares last traded at $18.60, with a volume of 1,398,354 shares changing hands.
Wall Street Analysts Forecast Growth
FRO has been the topic of several research analyst reports. Evercore ISI lowered their target price on shares of Frontline from $22.00 to $20.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Kepler Capital Markets set a $12.49 price target on shares of Frontline in a research note on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Frontline has a consensus rating of "Moderate Buy" and a consensus price target of $20.62.
Read Our Latest Analysis on FRO
Frontline Stock Performance
The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.43 and a current ratio of 1.43. The business's fifty day moving average price is $16.94 and its two-hundred day moving average price is $16.25. The stock has a market capitalization of $4.20 billion, a P/E ratio of 7.69 and a beta of 0.28.
Frontline (NYSE:FRO - Get Free Report) last posted its quarterly earnings data on Friday, May 23rd. The shipping company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. The business had revenue of $427.87 million during the quarter, compared to analyst estimates of $252.26 million. Frontline had a return on equity of 19.25% and a net margin of 25.64%. The company's revenue for the quarter was down 26.0% on a year-over-year basis. During the same period last year, the company earned $0.62 EPS. As a group, sell-side analysts forecast that Frontline plc will post 1.78 earnings per share for the current year.
Frontline Announces Dividend
The company also recently disclosed a dividend, which will be paid on Tuesday, June 24th. Investors of record on Friday, June 13th will be given a $0.18 dividend. This represents a yield of 3.97%. The ex-dividend date of this dividend is Thursday, June 12th. Frontline's dividend payout ratio (DPR) is currently 46.15%.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of FRO. Vanguard Group Inc. boosted its holdings in Frontline by 1.0% during the 1st 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 during the period. Encompass Capital Advisors LLC purchased a new position in shares of Frontline during the first quarter worth approximately $45,026,000. Cooper Creek Partners Management LLC purchased a new stake in shares of Frontline in the fourth quarter valued at approximately $41,447,000. Hartree Partners LP boosted its holdings in shares of Frontline by 38.8% in the first quarter. Hartree Partners LP now owns 1,472,220 shares of the shipping company's stock valued at $21,851,000 after purchasing an additional 411,220 shares during the period. Finally, Renaissance Technologies LLC grew its stake in Frontline by 27.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,378,037 shares of the shipping company's stock worth $19,554,000 after purchasing an additional 297,437 shares in the last quarter. Hedge funds and other institutional investors own 22.70% of the company's stock.
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Frontline, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Frontline wasn't on the list.
While Frontline currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
