Frontline PLC (NYSE:FRO) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Frontline PLC (NYSE:FRO) have been given an average recommendation of “Moderate Buy” by the five analysts that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $20.62.

Several equities analysts have weighed in on the company. Kepler Capital Markets set a $12.49 target price on Frontline in a research report on Thursday, March 27th. Evercore ISI dropped their price objective on shares of Frontline from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd.

Hedge Funds Weigh In On Frontline

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Frontline by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 5,547,556 shares of the shipping company’s stock worth $81,538,000 after purchasing an additional 54,471 shares during the period. Encompass Capital Advisors LLC acquired a new position in Frontline during the first quarter worth about $45,026,000. Cooper Creek Partners Management LLC acquired a new stake in Frontline during the 4th quarter valued at $41,447,000. Hartree Partners LP increased its position in Frontline by 38.8% during the 1st quarter. Hartree Partners LP now owns 1,472,220 shares of the shipping company’s stock worth $21,851,000 after purchasing an additional 411,220 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Frontline by 27.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,378,037 shares of the shipping company’s stock valued at $19,554,000 after buying an additional 297,437 shares during the last quarter. Hedge funds and other institutional investors own 22.70% of the company’s stock.

Frontline Stock Performance

NYSE:FRO opened at $19.57 on Thursday. Frontline has a fifty-two week low of $12.40 and a fifty-two week high of $26.53. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.82 and a current ratio of 1.82. The company has a 50 day moving average price of $17.26 and a 200 day moving average price of $16.32. The stock has a market capitalization of $4.36 billion, a P/E ratio of 12.55 and a beta of 0.28.

Frontline (NYSE:FRO) last released its quarterly earnings results on Friday, May 23rd. The shipping company reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. Frontline had a return on equity of 12.67% and a net margin of 17.67%. The company had revenue of $427.87 million for the quarter, compared to analysts’ expectations of $252.26 million. During the same period in the prior year, the firm earned $0.62 earnings per share. The firm’s revenue was down 26.0% compared to the same quarter last year. Equities research analysts forecast that Frontline will post 1.78 EPS for the current year.

Frontline Dividend Announcement

The company also recently declared a dividend, which will be paid on Tuesday, June 24th. Investors of record on Friday, June 13th will be paid a $0.18 dividend. The ex-dividend date is Thursday, June 12th. This represents a yield of 3.97%. Frontline’s dividend payout ratio is currently 46.15%.

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.