Frontline PLC Declares Quarterly Dividend of $0.36 (NYSE:FRO)

Frontline PLC (NYSE:FRO) announced a quarterly dividend on Friday, August 29th. Shareholders of record on Friday, September 12th will be paid a dividend of 0.36 per share by the shipping company on Wednesday, September 24th. This represents a c) dividend on an annualized basis and a yield of 6.4%. The ex-dividend date is Friday, September 12th.

Frontline has a dividend payout ratio of 23.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Frontline to earn $2.34 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 30.8%.

Frontline Trading Down 2.0%

Shares of Frontline stock opened at $22.47 on Wednesday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.88 and a current ratio of 1.88. Frontline has a 52 week low of $12.40 and a 52 week high of $25.68. The stock has a 50 day moving average price of $19.36 and a two-hundred day moving average price of $17.57. The stock has a market capitalization of $5.00 billion, a PE ratio of 21.00 and a beta of 0.25.

Frontline (NYSE:FRO) last announced its quarterly earnings data on Friday, August 29th. The shipping company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.06). Frontline had a net margin of 12.94% and a return on equity of 10.27%. The firm had revenue of $282.95 million during the quarter, compared to analyst estimates of $328.71 million. During the same period last year, the business posted $0.62 EPS. The company’s revenue was up 34.2% on a year-over-year basis. As a group, equities analysts anticipate that Frontline will post 1.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FRO has been the topic of a number of recent research reports. Wall Street Zen lowered Frontline from a “hold” rating to a “sell” rating in a report on Sunday, July 6th. Jefferies Financial Group reiterated a “buy” rating and set a $25.00 price target on shares of Frontline in a report on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Frontline has an average rating of “Moderate Buy” and an average target price of $21.87.

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.