Frontline plc (NYSE:FRO) Given Consensus Rating of "Moderate Buy" by Brokerages

Frontline plc (NYSE:FRO - Get Free Report) has received a consensus rating of "Moderate Buy" from the five ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $20.62.

A number of research firms have recently commented on FRO. Kepler Capital Markets set a $12.49 price objective on shares of Frontline in a research note on Thursday, March 27th. Evercore ISI lowered their price objective 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.

Frontline Trading Up 2.2%

FRO traded up $0.40 during trading on Thursday, reaching $18.36. 3,295,794 shares of the company's stock were exchanged, compared to its average volume of 2,547,626. Frontline has a one year low of $12.40 and a one year high of $26.53. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 1.44. The stock has a market capitalization of $4.09 billion, a PE ratio of 7.49 and a beta of 0.28. The firm has a fifty day moving average price of $16.72 and a two-hundred day moving average price of $16.25.

Frontline (NYSE:FRO - Get Free Report) last posted 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 net margin of 25.64% and a return on equity of 19.25%. The firm had revenue of $427.87 million for the quarter, compared to analyst estimates of $252.26 million. During the same period in the previous year, the firm posted $0.62 EPS. The company's revenue for the quarter was down 26.0% compared to the same quarter last year. As a group, equities research analysts forecast that Frontline will post 1.78 earnings per share for the current fiscal year.

Frontline Announces Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, June 24th. Investors of record on Friday, June 13th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a yield of 3.97%. Frontline's dividend payout ratio (DPR) is presently 46.15%.

Institutional Trading of Frontline

Large investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its holdings 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 worth $1,021,000 after buying an additional 28,478 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Frontline during the fourth quarter worth about $341,000. BNP Paribas Financial Markets bought a new position in Frontline during the fourth quarter worth about $424,000. Dynamic Technology Lab Private Ltd bought a new position in Frontline during the fourth quarter worth about $342,000. Finally, Private Advisor Group LLC boosted 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 worth $398,000 after purchasing an additional 17,428 shares during the period. Hedge funds and other institutional investors own 22.70% of the company's stock.

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.