Frontline Ltd. (fro) to Issue $0.10 Quarterly Dividend
Frontline Ltd. (NYSE:fro) declared a quarterly dividend on Wednesday, November 30th. Investors of record on Thursday, December 15th will be paid a dividend of 0.10 per share on Thursday, December 22nd. This represents a $0.40 annualized dividend and a dividend yield of 5.69%. The ex-dividend date of this dividend is Tuesday, December 13th.
Frontline (NYSE:FRO) opened at 7.03 on Thursday. The stock has a market cap of $1.10 billion, a PE ratio of 4.60 and a beta of 2.55. Frontline has a one year low of $6.80 and a one year high of $16.40. The company’s 50 day moving average is $7.49 and its 200 day moving average is $7.81.
Frontline (NYSE:FRO) last announced its quarterly earnings data on Tuesday, November 29th. The company reported $0.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.06. Frontline had a net margin of 28.17% and a return on equity of 16.87%. On average, equities research analysts expect that Frontline will post $0.95 EPS for the current year.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Frontline from a “sell” rating to a “hold” rating in a report on Thursday, September 1st. Morgan Stanley restated an “equal weight” rating and issued a $7.00 price objective (down from $10.00) on shares of Frontline in a report on Friday, August 26th. Finally, Wells Fargo & Co. restated a “hold” rating on shares of Frontline in a report on Tuesday, September 27th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Frontline has an average rating of “Hold” and a consensus price target of $9.88.
Several hedge funds and other institutional investors have recently bought and sold shares of FRO. Credit Suisse AG increased its position in shares of Frontline by 39.5% in the third quarter. Credit Suisse AG now owns 227,089 shares of the company’s stock valued at $1,628,000 after buying an additional 64,243 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of Frontline during the third quarter valued at about $304,000. Two Sigma Advisers LP acquired a new position in shares of Frontline during the third quarter valued at about $108,000. KCG Holdings Inc. acquired a new position in shares of Frontline during the third quarter valued at about $181,000. Finally, Northern Trust Corp increased its position in shares of Frontline by 0.3% in the third quarter. Northern Trust Corp now owns 537,577 shares of the company’s stock valued at $3,854,000 after buying an additional 1,716 shares during the last quarter. 7.62% of the stock is currently owned by hedge funds and other institutional investors.
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Frontline Company Profile
Frontline Ltd. is a shipping company. The Company is engaged in the seaborne transportation of crude oil and oil products. The Company operates through the tankers segment. The tankers segment includes crude oil tankers and product tankers. The Company operates through subsidiaries and partnerships located in Bermuda, India, the Philippines, Liberia, Norway, the United Kingdom and Singapore.
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