Frontline plc (NYSE:FRO – Get Free Report) has received an average recommendation of “Buy” from the six ratings firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $28.06.
FRO has been the topic of a number of recent research reports. Evercore ISI reduced their target price on shares of Frontline from $33.00 to $32.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 23rd. BTIG Research raised shares of Frontline from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Monday, October 7th. StockNews.com upgraded shares of Frontline to a “sell” rating in a report on Thursday, September 5th. Fearnley Fonds upgraded Frontline to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $30.00 price objective on shares of Frontline in a research note on Friday, August 30th.
Get Our Latest Research Report on FRO
Hedge Funds Weigh In On Frontline
Frontline Price Performance
Frontline stock opened at $20.22 on Friday. Frontline has a fifty-two week low of $18.34 and a fifty-two week high of $29.39. The stock’s 50 day simple moving average is $23.04 and its two-hundred day simple moving average is $24.34. 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 (NYSE:FRO – Get Free Report) last released its quarterly earnings results on Friday, August 30th. The shipping company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.03). The firm had revenue of $409.72 million for the quarter, compared to the consensus estimate of $383.88 million. Frontline had a net margin of 29.42% and a return on equity of 19.73%. During the same quarter in the prior year, the firm earned $0.94 earnings per share. As a group, equities analysts forecast that Frontline will post 2.62 earnings per share for the current year.
Frontline Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 12.27%. The ex-dividend date of this dividend was Friday, September 13th. Frontline’s dividend payout ratio (DPR) is currently 93.23%.
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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