Frontline Ltd Announces — Dividend of $0.10 (NYSE:FRO)

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Frontline Ltd (NYSE:FRO) declared a — dividend on Wednesday, December 4th, Wall Street Journal reports. Shareholders of record on Wednesday, December 11th will be given a dividend of 0.10 per share by the shipping company on Friday, December 20th. The ex-dividend date is Tuesday, December 10th.

Frontline stock opened at $11.19 on Friday. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of 28.21, a price-to-earnings-growth ratio of 2.57 and a beta of 0.98. The firm’s fifty day moving average price is $10.57 and its two-hundred day moving average price is $8.91. Frontline has a 1-year low of $4.82 and a 1-year high of $11.91. The company has a current ratio of 1.44, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46.

Frontline (NYSE:FRO) last posted its earnings results on Wednesday, November 27th. The shipping company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.09). Frontline had a return on equity of 5.56% and a net margin of 6.76%. The business had revenue of $187.64 million for the quarter, compared to the consensus estimate of $106.40 million. During the same period in the previous year, the firm earned ($0.05) earnings per share. The company’s revenue was down .6% on a year-over-year basis. On average, research analysts forecast that Frontline will post 0.84 EPS for the current year.

A number of research firms have issued reports on FRO. BTIG Research lifted their price target on Frontline from $12.00 to $18.00 in a research note on Tuesday, November 5th. ValuEngine raised Frontline from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd. Evercore ISI upgraded Frontline from an “in-line” rating to an “outperform” rating and set a $14.00 target price on the stock in a report on Friday, October 18th. Nordea Equity Research raised Frontline from a “sell” rating to a “buy” rating in a research report on Wednesday, August 28th. Finally, Zacks Investment Research upgraded Frontline from a “hold” rating to a “strong-buy” rating and set a $10.00 price target for the company in a report on Wednesday, September 18th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $10.11.

About Frontline

Frontline Ltd., 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, 2018, the company's fleet consisted of 61 vessels, which included very large crude carrier, Suezmax, and LR2/Aframax tankers with an aggregate capacity of approximately 11.6 million deadweight ton.

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Dividend History for Frontline (NYSE:FRO)

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