Frontline (NYSE:FRO) Sets New 1-Year High – Time to Buy?

Shares of Frontline PLC (NYSE:FRO) reached a new 52-week high on Monday . The stock traded as high as $27.56 and last traded at $27.0180, with a volume of 663009 shares changing hands. The stock had previously closed at $26.06.

Wall Street Analysts Forecast Growth

FRO has been the topic of several recent analyst reports. Jefferies Financial Group boosted their price target on Frontline from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, November 21st. 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 report on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Frontline in a research note on Monday, December 29th. Finally, Clarkson Capital raised shares of Frontline from a “neutral” rating to a “buy” rating in a report on Monday, January 12th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $24.62.

Frontline Price Performance

The company has a debt-to-equity ratio of 1.27, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a market capitalization of $6.00 billion, a P/E ratio of 27.52 and a beta of 0.08. The company’s 50 day moving average price is $23.61 and its 200 day moving average price is $22.32.

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

Frontline Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 12th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Friday, December 12th. Frontline’s dividend payout ratio (DPR) is presently 77.55%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Financial Gravity Companies Inc. acquired a new position in Frontline in the second quarter valued at approximately $25,000. Sunbelt Securities Inc. bought a new stake in shares of Frontline during the 3rd quarter valued at $41,000. Sound Income Strategies LLC bought a new stake in shares of Frontline during the 4th quarter valued at $53,000. CIBC Private Wealth Group LLC acquired a new position in shares of Frontline in the 3rd quarter valued at $80,000. Finally, Triumph Capital Management bought a new position in shares of Frontline in the 3rd quarter worth $97,000. Institutional investors own 22.70% of the company’s stock.

Frontline Company Profile

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.