Frontline PLC (NYSE:FRO) Stock Rated “Hold” by Sell-Side Analysts

Frontline PLC (NYSE:FRO) has earned an average recommendation of “Hold” from the eleven brokerages that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $45.37.

Several equities analysts have recently weighed in on the company. Wall Street Zen upgraded Frontline from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 29th. Nordea Equity Research lowered shares of Frontline to a “hold” rating in a report on Monday, August 31st. DZ Bank cut Frontline from a “hold” rating to a “sell” rating in a report on Friday, August 21st. BTIG Research upped their price target on shares of Frontline from $55.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, September 18th. Finally, Weiss Ratings upgraded shares of Frontline from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, August 28th.

Frontline Stock Down 0.0%

FRO opened at $52.72 on Wednesday. Frontline has a twelve month low of $20.47 and a twelve month high of $54.91. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.69. The company’s 50-day moving average price is $44.76 and its two-hundred day moving average price is $39.42. The stock has a market cap of $11.74 billion, a price-to-earnings ratio of 7.90 and a beta of 0.15.

Frontline (NYSE:FRO) last issued its earnings results on Friday, August 28th. The shipping company reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.74 by ($0.13). Frontline had a net margin of 49.47% and a return on equity of 44.24%. The firm had revenue of $943.30 million during the quarter, compared to the consensus estimate of $758.89 million. During the same quarter in the previous year, the firm earned $0.36 earnings per share. The business’s quarterly revenue was up 96.5% compared to the same quarter last year.

Frontline Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Friday, September 18th were paid a dividend of $2.61 per share. This represents a $10.44 annualized dividend and a dividend yield of 19.8%. This is a boost from Frontline’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend was Friday, September 18th. Frontline’s payout ratio is presently 156.52%.

Hedge Funds Weigh In On Frontline

A number of institutional investors have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership raised its position in shares of Frontline by 4,659.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,783,681 shares of the shipping company’s stock worth $202,080,000 after acquiring an additional 5,662,172 shares in the last quarter. BlackRock Inc. bought a new position in Frontline in the 2nd quarter worth about $50,846,000. Bank of America Corp DE purchased a new stake in shares of Frontline during the second quarter valued at approximately $30,123,000. Cooper Creek Partners Management LLC purchased a new stake in Frontline during the 1st quarter valued at $26,911,000. Finally, Canada Pension Plan Investment Board bought a new stake in Frontline in the 2nd quarter worth about $22,849,000. 22.70% of the stock is owned by institutional investors.

Frontline Company Profile

Frontline plc (NYSE: FRO) is a maritime transportation company that owns and operates a fleet of crude oil and refined petroleum product tankers. Its vessels transport energy commodities for oil companies, commodity traders, refineries and other customers in international markets.

The company’s fleet primarily includes very large crude carriers (VLCCs), Suezmax tankers and Aframax or LR2 tankers. Frontline generally employs its vessels through a combination of voyage charters, time charters and commercial pool arrangements, allowing it to serve major global shipping routes and connect oil-producing regions with refineries and consuming markets.

Frontline has roots in the Norwegian shipping industry and is associated with shipping entrepreneur John Fredriksen.