Frontline (NYSE:FRO) Reaches New 1-Year Low – Time to Sell?

Frontline plc (NYSE:FRO)’s stock price reached a new 52-week low on Friday . The company traded as low as $13.08 and last traded at $13.01, with a volume of 342099 shares traded. The stock had previously closed at $14.34.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Kepler Capital Markets set a $12.49 price objective on shares of Frontline in a report on Thursday, March 27th. Jefferies Financial Group reduced their price objective on Frontline from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, December 17th. Two investment analysts have rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Frontline has a consensus rating of “Moderate Buy” and an average target price of $23.62.

Frontline Stock Down 12.2 %

The company has a debt-to-equity ratio of 1.44, a current ratio of 1.43 and a quick ratio of 1.43. The stock has a market cap of $2.80 billion, a PE ratio of 5.14 and a beta of 0.20. The company has a 50 day moving average price of $16.43 and a two-hundred day moving average price of $17.93.

Frontline (NYSE:FRO) last released its quarterly earnings data on Friday, February 28th. The shipping company reported $0.20 earnings per share for the quarter, meeting the consensus estimate of $0.20. Frontline had a net margin of 25.64% and a return on equity of 19.25%. The firm had revenue of $425.60 million during the quarter, compared to analysts’ expectations of $273.16 million. During the same period in the previous year, the company earned $0.46 earnings per share. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. Analysts expect that Frontline plc will post 1.78 EPS for the current year.

Frontline Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 6.35%. The ex-dividend date of this dividend was Friday, March 14th. Frontline’s dividend payout ratio (DPR) is presently 36.04%.

Institutional Investors Weigh In On Frontline

Large investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in shares of Frontline in the fourth quarter worth approximately $341,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Frontline by 65.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 71,972 shares of the shipping company’s stock worth $1,021,000 after acquiring an additional 28,478 shares during the last quarter. Private Advisor Group LLC boosted its stake in shares of Frontline by 164.0% during the 4th quarter. Private Advisor Group LLC now owns 28,053 shares of the shipping company’s stock worth $398,000 after acquiring an additional 17,428 shares during the last quarter. Range Financial Group LLC purchased a new stake in shares of Frontline in the 4th quarter worth $579,000. Finally, Tejara Capital Ltd bought a new position in Frontline in the 4th quarter worth $633,000. 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.