Frontline plc (NYSE:FRO) Receives $27.26 Consensus Target Price from Analysts

Frontline plc (NYSE:FRO) has received a consensus rating of “Buy” from the six ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $27.26.

Several equities analysts recently commented on the company. BTIG Research upgraded Frontline from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Monday, October 7th. Jefferies Financial Group decreased their price objective on shares of Frontline from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. StockNews.com raised shares of Frontline to a “sell” rating in a research note on Thursday, September 5th. Finally, Fearnley Fonds raised shares of Frontline to a “strong-buy” rating in a research note on Friday, September 27th.

Institutional Investors Weigh In On Frontline

A number of institutional investors have recently made changes to their positions in FRO. Godsey & Gibb Inc. bought a new stake in Frontline in the third quarter worth $25,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Frontline in the 2nd quarter valued at about $31,000. Summit Securities Group LLC boosted its holdings in Frontline by 75.0% during the 2nd quarter. Summit Securities Group LLC now owns 1,400 shares of the shipping company’s stock valued at $36,000 after acquiring an additional 600 shares during the period. Blue Trust Inc. grew its position in Frontline by 17,866.7% during the 2nd quarter. Blue Trust Inc. now owns 2,156 shares of the shipping company’s stock worth $56,000 after acquiring an additional 2,144 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Frontline by 4,965.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,711 shares of the shipping company’s stock worth $116,000 after purchasing an additional 4,618 shares during the period. Hedge funds and other institutional investors own 22.70% of the company’s stock.

Frontline Price Performance

FRO stock opened at $18.07 on Wednesday. The firm has a 50 day moving average of $21.41 and a 200-day moving average of $23.68. The firm has a market capitalization of $4.02 billion, a P/E ratio of 6.79 and a beta of 0.06. Frontline has a 12 month low of $18.02 and a 12 month high of $29.39. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.40.

Frontline (NYSE:FRO) last announced its quarterly earnings results on Friday, August 30th. The shipping company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.03). The firm had revenue of $409.72 million during the quarter, compared to the consensus estimate of $383.88 million. Frontline had a net margin of 29.42% and a return on equity of 19.73%. During the same period in the previous year, the business earned $0.94 earnings per share. As a group, sell-side analysts predict that Frontline will post 1.88 earnings per share for the current fiscal year.

Frontline Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 13.73%. The ex-dividend date was Friday, September 13th. Frontline’s dividend payout ratio (DPR) is presently 93.23%.

About Frontline

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.