Analysts Set Frontline plc (NYSE:FRO) Price Target at $25.36

Frontline plc (NYSE:FRO) has earned a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $24.36.

A number of equities research analysts have weighed in on the stock. Fearnley Fonds raised shares of Frontline to a “strong-buy” rating in a report on Friday, September 27th. Kepler Capital Markets lowered shares of Frontline from a “buy” rating to a “hold” rating and set a $15.83 target price for the company. in a research note on Thursday, December 12th. BTIG Research upgraded shares of Frontline from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Monday, October 7th. Jefferies Financial Group cut their price objective on Frontline from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, StockNews.com raised Frontline to a “sell” rating in a research note on Thursday, September 5th.

Frontline Price Performance

NYSE FRO opened at $13.82 on Friday. The firm has a market capitalization of $3.08 billion and a PE ratio of 5.64. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.43 and a quick ratio of 1.43. Frontline has a 12 month low of $13.41 and a 12 month high of $29.39. The company’s 50 day simple moving average is $18.86 and its 200 day simple moving average is $22.29.

Frontline (NYSE:FRO) last posted its quarterly earnings data on Wednesday, November 27th. The shipping company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). Frontline had a return on equity of 19.25% and a net margin of 25.64%. During the same period in the prior year, the company posted $0.36 earnings per share. As a group, equities research analysts forecast that Frontline will post 1.83 EPS for the current fiscal year.

Frontline Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, December 11th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 9.84%. The ex-dividend date is Wednesday, December 11th. Frontline’s dividend payout ratio is currently 55.51%.

Institutional Investors Weigh In On Frontline

A number of institutional investors have recently modified their holdings of the stock. Blue Trust Inc. raised its holdings in shares of Frontline by 17,866.7% during the second quarter. Blue Trust Inc. now owns 2,156 shares of the shipping company’s stock worth $56,000 after acquiring an additional 2,144 shares in the last quarter. Paradiem LLC raised its stake in shares of Frontline by 2.1% during the 2nd quarter. Paradiem LLC now owns 366,373 shares of the shipping company’s stock worth $9,438,000 after purchasing an additional 7,685 shares in the last quarter. Summit Global Investments acquired a new stake in shares of Frontline during the 2nd quarter valued at about $1,995,000. Summit Securities Group LLC increased its holdings in Frontline by 75.0% in the second quarter. Summit Securities Group LLC now owns 1,400 shares of the shipping company’s stock worth $36,000 after buying an additional 600 shares during the last quarter. Finally, Emfo LLC raised its position in Frontline by 79.3% during the second quarter. Emfo LLC now owns 7,170 shares of the shipping company’s stock valued at $185,000 after acquiring an additional 3,170 shares in the last quarter. Institutional investors and hedge funds own 22.70% of the company’s stock.

Frontline Company Profile

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.