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

Frontline PLC (NYSE:FRO) has received an average recommendation of “Hold” from the nine brokerages that are currently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $39.1150.

Several research analysts recently weighed in on FRO shares. Piper Sandler downgraded shares of Frontline to a “neutral” rating in a report on Friday, February 27th. Danske downgraded shares of Frontline to a “hold” rating in a report on Tuesday, May 26th. Wall Street Zen raised shares of Frontline from a “hold” rating to a “buy” rating in a report on Saturday, April 4th. BTIG Research upped their target price on shares of Frontline from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Finally, Evercore downgraded shares of Frontline from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 21st.

Frontline Trading Down 0.3%

Shares of FRO stock opened at $40.83 on Monday. Frontline has a 1 year low of $16.25 and a 1 year high of $40.96. The firm has a fifty day moving average price of $36.68 and a 200-day moving average price of $31.59. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.03 and a quick ratio of 2.03. The company has a market cap of $9.09 billion, a price-to-earnings ratio of 10.06 and a beta of 0.02.

Frontline (NYSE:FRO) last issued its quarterly earnings data on Friday, May 22nd. The shipping company reported $1.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.03). Frontline had a net margin of 36.70% and a return on equity of 27.80%. The business had revenue of $714.24 million for the quarter, compared to the consensus estimate of $579.59 million. During the same period in the previous year, the firm earned $0.18 EPS. The company’s revenue was up 66.9% on a year-over-year basis.

Frontline Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Friday, June 12th will be issued a dividend of $1.55 per share. This is a boost from Frontline’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Friday, June 12th. This represents a $6.20 annualized dividend and a dividend yield of 15.2%. Frontline’s payout ratio is currently 152.71%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Assetmark Inc. boosted its holdings in shares of Frontline by 278.6% during the 1st quarter. Assetmark Inc. now owns 973 shares of the shipping company’s stock valued at $34,000 after purchasing an additional 716 shares during the last quarter. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Frontline during the 4th quarter valued at about $25,000. Parallel Advisors LLC raised its position in shares of Frontline by 58.9% during the 1st quarter. Parallel Advisors LLC now owns 1,311 shares of the shipping company’s stock valued at $46,000 after buying an additional 486 shares in the last quarter. NFSG Corp raised its position in shares of Frontline by 50.0% during the 1st quarter. NFSG Corp now owns 1,500 shares of the shipping company’s stock valued at $52,000 after buying an additional 500 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Frontline by 81.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,689 shares of the shipping company’s stock valued at $59,000 after buying an additional 760 shares in the last quarter. Institutional investors own 22.70% of the company’s stock.

Frontline Company Profile

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.