Frontline plc (NYSE:FRO) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Frontline plc (NYSE:FRO) have been given an average rating of “Moderate Buy” by the six ratings firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $24.03.

A number of analysts have recently commented on FRO shares. Kepler Capital Markets cut Frontline from a “buy” rating to a “hold” rating and set a $15.83 price target for the company. in a research note on Thursday, December 12th. Jefferies Financial Group cut their target price on shares of Frontline from $26.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, December 17th.

Frontline Stock Performance

FRO stock opened at $15.37 on Friday. Frontline has a twelve month low of $13.17 and a twelve month high of $29.39. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 1.44. The company has a market cap of $3.42 billion and a P/E ratio of 6.27. The business’s fifty day moving average is $16.41 and its 200-day moving average is $19.28.

Frontline (NYSE:FRO) last released its earnings results on Wednesday, November 27th. The shipping company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05). Frontline had a net margin of 25.64% and a return on equity of 19.25%. During the same period last year, the business posted $0.36 earnings per share. Equities research analysts forecast that Frontline will post 1.78 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC acquired a new stake in shares of Frontline during the third quarter worth $783,000. Range Financial Group LLC bought a new position in Frontline during the 4th quarter worth about $579,000. Charles Schwab Investment Management Inc. raised its stake in shares of Frontline by 102.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 43,494 shares of the shipping company’s stock valued at $994,000 after purchasing an additional 22,022 shares during the period. Clear Harbor Asset Management LLC bought a new stake in shares of Frontline in the fourth quarter valued at about $214,000. Finally, Harbour Capital Advisors LLC acquired a new position in shares of Frontline during the fourth quarter worth about $439,000. Institutional investors own 22.70% of the company’s stock.

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.