Analysts Set Frontline plc (NYSE:FRO) PT at $20.62

Shares of Frontline plc (NYSE:FRO) have been given a consensus rating of “Moderate Buy” by the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $20.62.

FRO has been the topic of a number of research analyst reports. Kepler Capital Markets set a $12.49 target price on Frontline in a report on Thursday, March 27th. Evercore ISI lowered their price target on shares of Frontline from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd.

Frontline Stock Down 2.2%

FRO stock opened at $18.00 on Friday. Frontline has a fifty-two week low of $12.40 and a fifty-two week high of $29.39. The business’s 50 day moving average price is $15.92 and its two-hundred day moving average price is $16.40. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.43 and a current ratio of 1.43. The company has a market capitalization of $4.01 billion, a price-to-earnings ratio of 7.35 and a beta of 0.24.

Frontline (NYSE:FRO) last posted its earnings results on Friday, February 28th. The shipping company reported $0.20 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.20. Frontline had a return on equity of 19.25% and a net margin of 25.64%. The firm had revenue of $425.60 million for the quarter, compared to the consensus estimate of $273.16 million. During the same quarter in the prior year, the business earned $0.46 EPS. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, analysts forecast that Frontline will post 1.78 earnings per share for the current fiscal year.

Frontline Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 4.44%. Frontline’s dividend payout ratio (DPR) is currently 36.04%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Jones Financial Companies Lllp purchased a new position in Frontline during the 4th quarter valued at about $31,000. SVB Wealth LLC purchased a new position in Frontline during the 1st quarter valued at about $32,000. Bayforest Capital Ltd purchased a new position in Frontline in the first quarter worth about $34,000. Signaturefd LLC lifted its stake in shares of Frontline by 59.3% in the first quarter. Signaturefd LLC now owns 2,657 shares of the shipping company’s stock worth $39,000 after buying an additional 989 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new position in shares of Frontline in the fourth quarter worth approximately $84,000. 22.70% of the stock is owned by hedge funds and other institutional investors.

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.