Frontline PLC (NYSE:FRO) Given Consensus Rating of "Hold" by Analysts

Key Points

• Analysts give Frontline an average rating of "Hold" (4 holds, 3 buys) with a one-year consensus target price of $39.00.
• Frontline raised its quarterly dividend to $1.03 (annualized $4.12), implying a 11.1% yield while the payout ratio sits at 242.35%.
• In its latest quarter Frontline reported EPS of $1.03, missing estimates of $1.13, but posted a revenue beat of $624.51 million vs. $456.90 million, up 46.7% year-over-year.

Frontline PLC (NYSE:FRO - Get Free Report) has earned an average rating of "Hold" from the seven research firms that are presently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $39.00.

A number of brokerages have recently commented on FRO. Evercore lowered shares of Frontline from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 21st. BTIG Research raised their target price on shares of Frontline from $42.00 to $45.00 and gave the stock a "buy" rating in a research report on Wednesday, April 22nd. Clarkson Capital raised shares of Frontline from a "neutral" rating to a "buy" rating in a research report on Monday, January 12th. Dnb Carnegie lowered shares of Frontline from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 2nd. Finally, Piper Sandler lowered shares of Frontline to a "neutral" rating in a research report on Friday, February 27th.

Frontline Stock Performance

Frontline stock opened at $36.98 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.43 and a quick ratio of 1.19. Frontline has a 1-year low of $16.25 and a 1-year high of $39.89. The firm has a market capitalization of $8.23 billion, a P/E ratio of 21.75 and a beta of 0.04. The company's 50-day moving average is $34.96 and its 200 day moving average is $28.40.

Frontline (NYSE:FRO - Get Free Report) last posted its quarterly earnings data on Saturday, February 28th. The shipping company reported $1.03 earnings per share for the quarter, missing analysts' consensus estimates of $1.13 by ($0.10). The firm had revenue of $624.51 million during the quarter, compared to analysts' expectations of $456.90 million. Frontline had a return on equity of 16.51% and a net margin of 19.31%.The business's revenue for the quarter was up 46.7% compared to the same quarter last year. During the same period last year, the company earned $0.20 earnings per share.

Frontline Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Thursday, March 12th were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 11.1%. This is a boost from Frontline's previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Thursday, March 12th. Frontline's payout ratio is currently 242.35%.

Institutional Trading of Frontline

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Frontline by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 5,903,785 shares of the shipping company's stock worth $129,966,000 after acquiring an additional 63,432 shares during the period. Balyasny Asset Management L.P. increased its holdings in Frontline by 44.0% during the third quarter. Balyasny Asset Management L.P. now owns 2,247,120 shares of the shipping company's stock valued at $51,212,000 after buying an additional 686,212 shares during the period. UBS Group AG increased its holdings in Frontline by 18.2% during the fourth quarter. UBS Group AG now owns 1,411,265 shares of the shipping company's stock valued at $30,794,000 after buying an additional 217,760 shares during the period. SG Americas Securities LLC increased its holdings in Frontline by 20.6% during the third quarter. SG Americas Securities LLC now owns 1,058,260 shares of the shipping company's stock valued at $24,118,000 after buying an additional 180,731 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Frontline by 27.3% during the second quarter. The Manufacturers Life Insurance Company now owns 942,698 shares of the shipping company's stock valued at $15,477,000 after buying an additional 202,142 shares during the period. 22.70% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.