Frontline PLC (NYSE:FRO) Receives $20.62 Consensus PT from Brokerages

Shares of Frontline PLC (NYSE:FRO - Get Free Report) have been given an average rating of "Moderate Buy" by the five analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $20.62.

Several equities analysts recently commented on the company. Evercore ISI dropped their target price on Frontline from $22.00 to $20.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Wall Street Zen downgraded Frontline from a "hold" rating to a "sell" rating in a report on Sunday. Finally, Kepler Capital Markets set a $12.49 target price on Frontline in a research report on Thursday, March 27th.

Institutional Trading of Frontline

Institutional investors and hedge funds have recently bought and sold shares of the company. Jones Financial Companies Lllp acquired a new position in Frontline during the 4th quarter valued at approximately $31,000. SVB Wealth LLC bought a new position in shares of Frontline during the first quarter worth about $32,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Frontline in the 2nd quarter worth about $33,000. Bayforest Capital Ltd bought a new stake in Frontline in the 1st quarter valued at about $34,000. Finally, Signaturefd LLC boosted its stake in Frontline by 59.3% during the 1st quarter. Signaturefd LLC now owns 2,657 shares of the shipping company's stock valued at $39,000 after purchasing an additional 989 shares during the period. Institutional investors and hedge funds own 22.70% of the company's stock.

Frontline Price Performance

Shares of FRO stock traded up $0.55 during trading hours on Monday, hitting $18.46. The company's stock had a trading volume of 2,483,297 shares, compared to its average volume of 2,696,932. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 1.44. The business has a fifty day moving average of $17.93 and a 200-day moving average of $16.63. Frontline has a twelve month low of $12.40 and a twelve month high of $25.68. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of 11.83 and a beta of 0.25.

Frontline (NYSE:FRO - Get Free Report) last posted 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. Frontline had a return on equity of 12.67% and a net margin of 17.67%. The firm had revenue of $427.87 million during the quarter, compared to analysts' expectations of $252.26 million. During the same quarter last year, the business posted $0.62 EPS. The firm's quarterly revenue was down 26.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Frontline will post 1.78 EPS for the current year.

Frontline Announces Dividend

The business also recently declared a dividend, which was paid on Tuesday, June 24th. Stockholders of record on Friday, June 13th were given a dividend of $0.18 per share. This represents a dividend yield of 3.97%. The ex-dividend date was Thursday, June 12th. Frontline's payout ratio is currently 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.