Frontline PLC (NYSE:FRO) Receives $20.62 Average PT from Analysts

Key Points

• Frontline PLC (NYSE:FRO) has received a consensus rating of "Moderate Buy" from analysts, with one sell recommendation, three buy recommendations, and one strong buy recommendation.
• The company recently announced a dividend of $0.18 per share, representing a yield of 397.0%, with a payout ratio of 46.15%.
• Frontline reported $427.87 million in revenue for the last quarter, significantly exceeding the analyst estimate of $252.26 million, despite a year-over-year revenue decline of 26.0%.

Shares of Frontline PLC (NYSE:FRO - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the five ratings firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $20.6225.

Several brokerages have weighed in on FRO. Wall Street Zen downgraded Frontline from a "hold" rating to a "sell" rating in a research report on Sunday, July 6th. 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 research note on Tuesday, April 22nd.

Institutional Investors Weigh In On Frontline

A number of institutional investors and hedge funds have recently bought and sold shares of FRO. Raymond James Financial Inc. purchased a new stake in Frontline in the fourth quarter valued at $241,000. Vanguard Group Inc. raised its holdings in shares of Frontline by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 5,493,085 shares of the shipping company's stock valued at $75,502,000 after buying an additional 51,073 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Frontline by 13.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 19,900 shares of the shipping company's stock valued at $274,000 after buying an additional 2,313 shares during the last quarter. National Bank of Canada FI raised its holdings in Frontline by 331.8% during the fourth quarter. National Bank of Canada FI now owns 6,166 shares of the shipping company's stock worth $87,000 after purchasing an additional 4,738 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Frontline during the fourth quarter worth about $342,000. 22.70% of the stock is owned by hedge funds and other institutional investors.

Frontline Trading Up 6.5%

Shares of NYSE:FRO traded up $1.25 during trading hours on Friday, hitting $20.48. 2,039,361 shares of the company's stock traded hands, compared to its average volume of 3,081,152. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.82 and a quick ratio of 1.82. The firm has a market capitalization of $4.56 billion, a P/E ratio of 13.08 and a beta of 0.22. The business has a fifty day moving average price of $18.26 and a 200-day moving average price of $17.04. Frontline has a 1 year low of $12.40 and a 1 year high of $25.68.

Frontline (NYSE:FRO - Get Free Report) last issued its quarterly earnings data on Friday, May 23rd. The shipping company reported $0.18 EPS for the quarter, hitting analysts' consensus estimates of $0.18. The company had revenue of $427.87 million during the quarter, compared to the consensus estimate of $252.26 million. Frontline had a net margin of 17.67% and a return on equity of 12.67%. Frontline's revenue for the quarter was down 26.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.62 earnings per share. Equities analysts expect that Frontline will post 1.78 earnings per share for the current year.

Frontline Announces Dividend

The business also recently declared a dividend, which was paid on Tuesday, June 24th. Investors of record on Friday, June 13th were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, June 12th. This represents a yield of 397.0%. Frontline's payout ratio is 46.15%.

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.