Frontline PLC (NYSE:FRO) Receives Average Recommendation of “Moderate Buy” from Analysts

Frontline PLC (NYSE:FRO) has been given an average recommendation of “Moderate Buy” by the six brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $24.6225.

Several analysts recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Frontline in a research note on Monday, December 29th. Clarkson Capital raised Frontline from a “neutral” rating to a “buy” rating in a research report on Monday, January 12th. Jefferies Financial Group boosted their price objective on Frontline from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, November 21st. Wall Street Zen raised Frontline from a “sell” rating to a “hold” rating in a research note on Friday, September 26th. Finally, Evercore ISI lifted their price target on shares of Frontline from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th.

Frontline Stock Down 4.1%

Frontline stock opened at $25.29 on Friday. The firm has a market capitalization of $5.63 billion, a price-to-earnings ratio of 25.81 and a beta of 0.08. The company’s 50 day simple moving average is $23.60 and its 200 day simple moving average is $22.21. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.37 and a quick ratio of 1.37. Frontline has a fifty-two week low of $12.40 and a fifty-two week high of $26.80.

Frontline (NYSE:FRO) last posted its earnings results on Friday, November 21st. The shipping company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.04). Frontline had a return on equity of 8.89% and a net margin of 12.23%.The firm had revenue of $257.04 million during the quarter, compared to analyst estimates of $265.23 million. During the same quarter last year, the business posted $0.34 earnings per share. As a group, sell-side analysts anticipate that Frontline will post 1.78 EPS for the current year.

Frontline Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 12th were paid a $0.19 dividend. The ex-dividend date of this dividend was Friday, December 12th. This represents a $0.76 dividend on an annualized basis and a yield of 3.0%. Frontline’s dividend payout ratio is presently 77.55%.

Institutional Investors Weigh In On Frontline

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sound Income Strategies LLC acquired a new stake in shares of Frontline in the fourth quarter valued at approximately $53,000. Range Financial Group LLC increased its stake in Frontline by 12.4% in the 4th quarter. Range Financial Group LLC now owns 82,450 shares of the shipping company’s stock valued at $1,799,000 after buying an additional 9,103 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Frontline by 2.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 561,525 shares of the shipping company’s stock worth $12,797,000 after buying an additional 11,941 shares in the last quarter. Triumph Capital Management bought a new stake in Frontline during the 3rd quarter worth about $97,000. Finally, CIBC Private Wealth Group LLC acquired a new position in shares of Frontline during the 3rd quarter worth about $80,000. Institutional investors and hedge funds own 22.70% of the company’s stock.

About Frontline

Frontline Ltd. (NYSE:FRO) is a leading global shipping company specializing in the seaborne transportation of crude oil and petroleum products. The company’s core business activities encompass the ownership and operation of very large crude carriers (VLCCs), Suezmax tankers and Aframax vessels. Through long-term charters, spot market operations and time charters, Frontline provides flexible shipping solutions that cater to a diverse set of energy producers, refiners and trading houses worldwide.

Frontline’s fleet is geared toward high-capacity, ocean-going tankers capable of carrying large volumes of crude oil over intercontinental distances.