Frontline plc (FRO) to Issue Quarterly Dividend of $0.20 on March 31st

Frontline plc (NYSE:FRO) announced a quarterly dividend on Friday, February 28th, NASDAQ Dividends reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.20 per share by the shipping company on Monday, March 31st. This represents a $0.80 annualized dividend and a dividend yield of 5.14%. The ex-dividend date is Friday, March 14th.

Frontline has a dividend payout ratio of 25.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Frontline to earn $2.34 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 34.2%.

Frontline Stock Performance

NYSE FRO opened at $15.58 on Wednesday. Frontline has a fifty-two week low of $13.17 and a fifty-two week high of $29.39. The business has a fifty day moving average of $16.73 and a 200-day moving average of $18.74. 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 stock has a market cap of $3.47 billion, a price-to-earnings ratio of 6.36 and a beta of -0.04.

Frontline (NYSE:FRO) last announced its quarterly earnings results on Friday, February 28th. The shipping company reported $0.20 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.20. The company had revenue of $425.60 million for the quarter, compared to analyst estimates of $273.16 million. Frontline had a net margin of 25.64% and a return on equity of 19.25%. Frontline’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the business earned $0.46 EPS. As a group, analysts predict that Frontline will post 1.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on FRO shares. Kepler Capital Markets lowered shares of Frontline from a “buy” rating to a “hold” rating and set a $15.83 price objective on the stock. in a report on Thursday, December 12th. Jefferies Financial Group reduced their price target on Frontline from $26.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.46.

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.