Shares of Frontline plc (NYSE:FRO – Get Free Report) 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.
Check Out Our Latest Stock Report on FRO
Frontline Stock Performance
Frontline (NYSE:FRO – Get Free Report) 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.
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