Frontline PLC (NYSE:FRO) Given Consensus Rating of “Hold” by Analysts

Shares of Frontline PLC (NYSE:FRO) have earned an average rating of “Hold” from the eight research firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $31.6225.

A number of research analysts have recently issued reports on FRO shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Frontline in a report on Monday, December 29th. BTIG Research raised their price objective on Frontline from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Piper Sandler lowered Frontline to a “neutral” rating in a research note on Friday, February 27th. Jefferies Financial Group boosted their target price on shares of Frontline from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, November 21st. Finally, Clarkson Capital raised shares of Frontline from a “neutral” rating to a “buy” rating in a research report on Monday, January 12th.

Institutional Investors Weigh In On Frontline

Several institutional investors have recently bought and sold shares of FRO. Financial Gravity Companies Inc. purchased a new position in Frontline in the second quarter worth $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Frontline during the fourth quarter worth $25,000. Sunbelt Securities Inc. purchased a new stake in shares of Frontline during the 3rd quarter valued at $41,000. Sound Income Strategies LLC acquired a new stake in shares of Frontline in the 4th quarter worth $53,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in shares of Frontline in the 3rd quarter worth $80,000. 22.70% of the stock is currently owned by institutional investors and hedge funds.

Frontline Price Performance

NYSE FRO opened at $30.17 on Friday. The company has a market cap of $6.72 billion and a PE ratio of 17.74. The firm’s 50 day moving average price is $30.01 and its 200-day moving average price is $25.48. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.37 and a current ratio of 1.43. Frontline has a 52-week low of $12.40 and a 52-week high of $39.89.

Frontline (NYSE:FRO) last issued its quarterly earnings data on Friday, February 27th. The shipping company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.10). The business had revenue of $424.51 million during the quarter, compared to the consensus estimate of $456.90 million. Frontline had a return on equity of 16.51% and a net margin of 19.31%.The business’s quarterly revenue was up 46.7% on a year-over-year basis. During the same period last year, the firm earned $0.20 EPS. Sell-side analysts forecast that Frontline will post 1.78 EPS for the current fiscal year.

Frontline Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, March 12th will be paid a dividend of $1.03 per share. This is a boost from Frontline’s previous quarterly dividend of $0.19. The ex-dividend date is Thursday, March 12th. This represents a $4.12 annualized dividend and a dividend yield of 13.7%. Frontline’s dividend payout ratio (DPR) is presently 242.35%.

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.