Analysts Set Frontline plc (NYSE:FRO) PT at $27.26

Shares of Frontline plc (NYSE:FRO) have earned a consensus rating of “Buy” from the six analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $27.26.

Several research analysts have weighed in on the stock. 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. Fearnley Fonds upgraded Frontline to a “strong-buy” rating in a research report on Friday, September 27th. Jefferies Financial Group reduced their price target on Frontline from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Finally, StockNews.com raised Frontline to a “sell” rating in a research report on Thursday, September 5th.

Frontline Stock Performance

Shares of FRO opened at $19.55 on Wednesday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.40. Frontline has a one year low of $18.26 and a one year high of $29.39. The business has a fifty day moving average of $21.49 and a 200 day moving average of $23.73.

Frontline (NYSE:FRO) last released its quarterly earnings results on Friday, August 30th. The shipping company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.03). The business had revenue of $409.72 million for the quarter, compared to analysts’ expectations of $383.88 million. Frontline had a net margin of 29.42% and a return on equity of 19.73%. During the same period in the previous year, the company earned $0.94 EPS. As a group, sell-side analysts anticipate that Frontline will post 1.88 earnings per share for the current fiscal year.

Frontline Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 12.69%. The ex-dividend date was Friday, September 13th. Frontline’s dividend payout ratio (DPR) is presently 93.23%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FRO. Vanguard Group Inc. boosted its position in shares of Frontline by 5,319.5% during the first quarter. Vanguard Group Inc. now owns 5,292,977 shares of the shipping company’s stock worth $123,750,000 after acquiring an additional 5,195,312 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Frontline by 1,326.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 527,470 shares of the shipping company’s stock worth $12,053,000 after purchasing an additional 490,486 shares in the last quarter. M&G PLC boosted its holdings in shares of Frontline by 27.2% during the 3rd quarter. M&G PLC now owns 1,110,763 shares of the shipping company’s stock valued at $25,164,000 after purchasing an additional 237,446 shares during the last quarter. Forest Avenue Capital Management LP grew its position in shares of Frontline by 12.7% during the second quarter. Forest Avenue Capital Management LP now owns 1,429,909 shares of the shipping company’s stock valued at $36,834,000 after purchasing an additional 161,518 shares in the last quarter. Finally, Point72 Europe London LLP bought a new stake in shares of Frontline in the third quarter worth about $3,219,000. 22.70% of the stock is currently owned by institutional investors.

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.