Frontline PLC (NYSE:FRO) Receives $24.62 Consensus Price Target from Analysts

Shares of Frontline PLC (NYSE:FRO) have been given a consensus recommendation of “Hold” by the six analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $24.6225.

Several equities research analysts have recently commented on FRO shares. BTIG Research boosted their target price on shares of Frontline from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, September 17th. Evercore ISI boosted their price objective on Frontline from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Clarkson Capital upgraded Frontline to a “hold” rating in a report on Monday, November 24th. Jefferies Financial Group upped their price target on Frontline from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, November 21st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Frontline in a report on Monday, December 29th.

Frontline Price Performance

Shares of NYSE:FRO opened at $20.55 on Monday. Frontline has a twelve month low of $12.40 and a twelve month high of $26.00. The stock’s 50 day moving average is $23.39 and its 200-day moving average is $21.55. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of 20.97 and a beta of 0.08.

Frontline (NYSE:FRO) last announced its quarterly earnings results on Friday, November 21st. The shipping company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). Frontline had a net margin of 12.23% and a return on equity of 8.89%. The business had revenue of $257.04 million for the quarter, compared to the consensus estimate of $265.23 million. During the same quarter last year, the firm posted $0.34 EPS. Sell-side analysts forecast that Frontline will post 1.78 EPS for the current fiscal year.

Frontline Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 12th were paid a dividend of $0.19 per share. The ex-dividend date was Friday, December 12th. This represents a $0.76 annualized dividend and a dividend yield of 3.7%. Frontline’s dividend payout ratio is presently 77.55%.

Institutional Investors Weigh In On Frontline

Hedge funds and other institutional investors have recently modified their holdings of the stock. Financial Gravity Companies Inc. bought a new position in shares of Frontline in the second quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Frontline in the 2nd quarter worth about $33,000. Bayforest Capital Ltd bought a new position in Frontline in the 1st quarter worth about $34,000. Sunbelt Securities Inc. purchased a new stake in shares of Frontline in the 3rd quarter valued at about $41,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of Frontline by 3,353.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 4,627 shares of the shipping company’s stock valued at $76,000 after acquiring an additional 4,493 shares during the last quarter. 22.70% of the stock is currently owned by institutional investors.

Frontline Company Profile

Frontline Ltd. (NYSE:FRO) is a leading global shipping company specializing in the seaborne transportation of crude oil and petroleum products. The company’s core business activities encompass the ownership and operation of very large crude carriers (VLCCs), Suezmax tankers and Aframax vessels. Through long-term charters, spot market operations and time charters, Frontline provides flexible shipping solutions that cater to a diverse set of energy producers, refiners and trading houses worldwide.

Frontline’s fleet is geared toward high-capacity, ocean-going tankers capable of carrying large volumes of crude oil over intercontinental distances.