Frontline PLC (NYSE:FRO) Given Consensus Rating of “Moderate Buy” by Brokerages

Frontline PLC (NYSE:FRO) has earned an average rating of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $25.8725.

A number of analysts have recently commented on the company. BTIG Research lifted their price target on Frontline from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. Jefferies Financial Group lifted their target price on shares of Frontline from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, November 21st. Evercore upped their price target on shares of Frontline from $22.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Frontline in a research note on Monday, December 29th. Finally, Clarkson Capital upgraded shares of Frontline from a “neutral” rating to a “buy” rating in a report on Monday, January 12th.

Frontline Stock Performance

NYSE FRO opened at $30.90 on Tuesday. The firm’s fifty day moving average price is $25.11 and its two-hundred day moving average price is $23.48. The stock has a market cap of $6.88 billion, a PE ratio of 31.53 and a beta of 0.07. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.37 and a current ratio of 1.37. Frontline has a fifty-two week low of $12.40 and a fifty-two week high of $30.96.

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). The firm had revenue of $257.04 million during the quarter, compared to the consensus estimate of $265.23 million. Frontline had a net margin of 12.23% and a return on equity of 8.89%. During the same quarter in the previous year, the company posted $0.34 earnings per share. On average, equities analysts expect that Frontline will post 1.78 EPS for the current fiscal year.

Frontline Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 12th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Friday, December 12th. Frontline’s payout ratio is 77.55%.

Hedge Funds Weigh In On Frontline

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC acquired a new stake in Frontline during the 4th quarter valued at approximately $3,332,000. Verition Fund Management LLC boosted its stake in shares of Frontline by 18.1% in the 4th quarter. Verition Fund Management LLC now owns 106,558 shares of the shipping company’s stock valued at $2,325,000 after purchasing an additional 16,300 shares during the last quarter. Marnell Management LLC acquired a new stake in shares of Frontline during the fourth quarter worth $2,385,000. Fieldview Capital Management LLC bought a new position in Frontline during the fourth quarter worth $648,000. Finally, Barclays PLC raised its stake in Frontline by 256.9% during the fourth quarter. Barclays PLC now owns 826,343 shares of the shipping company’s stock worth $18,031,000 after buying an additional 594,811 shares during the last quarter. 22.70% of the stock is owned by institutional investors and hedge funds.

About Frontline

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.