Frontline PLC (NYSE:FRO) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Frontline PLC has an average analyst rating of “Hold”, based on nine analysts; five rate it hold and four rate it buy, with an average 1-year price target of about $41.62.
• The company recently reported mixed quarterly results: EPS of $1.55 missed estimates by $0.03, but revenue came in well above expectations at $714.24 million and rose 66.9% year over year.
• Frontline also raised its quarterly dividend to $1.55 per share, implying a very high annualized yield of 16.7%, though the payout ratio is elevated at 152.71%.

Shares of Frontline PLC (NYSE:FRO - Get Free Report) have earned an average rating of "Hold" from the nine analysts that are currently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $41.6150.

FRO has been the topic of a number of recent analyst reports. Pareto Securities lowered Frontline from a "buy" rating to a "hold" rating and set a $39.46 target price on the stock. in a research note on Monday, May 25th. BTIG Research upped their price target on shares of Frontline from $45.00 to $55.00 and gave the stock a "buy" rating in a report on Wednesday, June 24th. Evercore downgraded shares of Frontline from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 21st. Weiss Ratings upgraded shares of Frontline from a "hold (c+)" rating to a "buy (b)" rating in a report on Friday, May 22nd. Finally, Wall Street Zen upgraded shares of Frontline from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 27th.

Institutional Trading of Frontline

A number of large investors have recently modified their holdings of FRO. Cozad Asset Management Inc. increased its holdings in Frontline by 3.5% during the 1st quarter. Cozad Asset Management Inc. now owns 13,152 shares of the shipping company's stock worth $458,000 after purchasing an additional 445 shares during the period. Bank of Montreal Can lifted its holdings in shares of Frontline by 0.6% in the 4th quarter. Bank of Montreal Can now owns 73,544 shares of the shipping company's stock worth $1,605,000 after buying an additional 460 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Frontline by 58.9% in the 1st quarter. Parallel Advisors LLC now owns 1,311 shares of the shipping company's stock worth $46,000 after buying an additional 486 shares during the period. NFSG Corp grew its position in shares of Frontline by 50.0% during the 1st quarter. NFSG Corp now owns 1,500 shares of the shipping company's stock worth $52,000 after buying an additional 500 shares in the last quarter. Finally, Integrated Wealth Concepts LLC raised its holdings in shares of Frontline by 3.5% in the third quarter. Integrated Wealth Concepts LLC now owns 16,204 shares of the shipping company's stock valued at $369,000 after acquiring an additional 552 shares in the last quarter. Hedge funds and other institutional investors own 22.70% of the company's stock.

Frontline Trading Down 2.0%

Shares of NYSE FRO opened at $37.14 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.03 and a current ratio of 2.03. The business's 50 day moving average price is $37.34 and its 200-day moving average price is $33.61. Frontline has a fifty-two week low of $18.04 and a fifty-two week high of $43.10. The company has a market cap of $8.27 billion, a price-to-earnings ratio of 9.15 and a beta of 0.01.

Frontline (NYSE:FRO - Get Free Report) last issued its quarterly earnings results on Friday, May 22nd. The shipping company reported $1.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.58 by ($0.03). The business had revenue of $714.24 million for the quarter, compared to the consensus estimate of $579.59 million. Frontline had a return on equity of 27.80% and a net margin of 36.70%.Frontline's revenue was up 66.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.18 earnings per share.

Frontline Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Friday, June 12th were paid a dividend of $1.55 per share. This is a boost from Frontline's previous quarterly dividend of $1.03. This represents a $6.20 annualized dividend and a dividend yield of 16.7%. The ex-dividend date of this dividend was Friday, June 12th. Frontline's payout ratio is presently 152.71%.

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.

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