Frontline (NYSE:FRO) Shares Gap Down - Should You Sell?

Shares of Frontline plc (NYSE:FRO - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $18.12, but opened at $17.71. Frontline shares last traded at $17.72, with a volume of 880,204 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Kepler Capital Markets set a $12.49 price objective on shares of Frontline in a research note on Thursday, March 27th. Evercore ISI dropped their price target on shares of Frontline from $22.00 to $20.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Frontline presently has a consensus rating of "Moderate Buy" and an average target price of $20.62.

Frontline Trading Down 0.2%

The company has a debt-to-equity ratio of 1.44, a current ratio of 1.43 and a quick ratio of 1.43. The stock has a market cap of $4.04 billion, a P/E ratio of 7.40 and a beta of 0.24. The firm's fifty day moving average price is $16.39 and its two-hundred day moving average price is $16.33.

Frontline (NYSE:FRO - Get Free Report) last announced its earnings results on Friday, May 23rd. The shipping company reported $0.18 earnings per share for the quarter, hitting analysts' consensus estimates of $0.18. Frontline had a return on equity of 19.25% and a net margin of 25.64%. The business had revenue of $427.87 million for the quarter, compared to analyst estimates of $252.26 million. During the same period in the prior year, the company earned $0.62 EPS. The company's quarterly revenue was down 26.0% compared to the same quarter last year. As a group, equities research analysts forecast that Frontline plc will post 1.78 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its position in Frontline by 65.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 71,972 shares of the shipping company's stock valued at $1,021,000 after purchasing an additional 28,478 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Frontline during the 4th quarter valued at $341,000. BNP Paribas Financial Markets purchased a new stake in shares of Frontline during the 4th quarter valued at $424,000. Dynamic Technology Lab Private Ltd purchased a new stake in Frontline during the fourth quarter valued at about $342,000. Finally, Private Advisor Group LLC raised its position in Frontline by 164.0% during the fourth quarter. Private Advisor Group LLC now owns 28,053 shares of the shipping company's stock valued at $398,000 after purchasing an additional 17,428 shares in the last quarter. 22.70% of the stock is currently owned by institutional investors.

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.