Frontline plc (NYSE:FRO) Given Average Rating of “Moderate Buy” by Brokerages

Frontline plc (NYSE:FRO) has earned an average rating of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $24.03.

Several equities analysts recently issued reports on the company. Kepler Capital Markets lowered Frontline from a “buy” rating to a “hold” rating and set a $15.83 price objective for the company. in a research report on Thursday, December 12th. Jefferies Financial Group decreased their price objective on Frontline from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, December 17th. Finally, BTIG Research upgraded Frontline from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Monday, October 7th.

Institutional Investors Weigh In On Frontline

Institutional investors have recently bought and sold shares of the company. Godsey & Gibb Inc. bought a new stake in Frontline in the 3rd quarter valued at approximately $25,000. Golden State Wealth Management LLC bought a new stake in Frontline in the 4th quarter valued at approximately $84,000. Blue Trust Inc. lifted its stake in Frontline by 124.4% in the 3rd quarter. Blue Trust Inc. now owns 4,837 shares of the shipping company’s stock valued at $111,000 after acquiring an additional 2,681 shares in the last quarter. U S Global Investors Inc. bought a new stake in Frontline in the 3rd quarter valued at approximately $135,000. Finally, Clear Harbor Asset Management LLC bought a new stake in Frontline in the 4th quarter valued at approximately $214,000. Institutional investors own 22.70% of the company’s stock.

Frontline Stock Performance

Shares of NYSE:FRO opened at $17.30 on Monday. The stock has a market capitalization of $3.85 billion, a P/E ratio of 7.06 and a beta of 0.01. Frontline has a 1-year low of $13.17 and a 1-year high of $29.39. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 1.44. The business has a 50-day moving average price of $15.72 and a two-hundred day moving average price of $20.09.

Frontline (NYSE:FRO) last posted its earnings results on Wednesday, November 27th. The shipping company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.05). Frontline had a return on equity of 19.25% and a net margin of 25.64%. During the same period last year, the business earned $0.36 EPS. Equities analysts predict that Frontline will post 1.78 earnings per share for the current year.

Frontline Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 11th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 7.86%. The ex-dividend date of this dividend was Wednesday, December 11th. Frontline’s payout ratio is 55.51%.

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.