Frontline PLC (NYSE:FRO) Stock Now Rated “Hold” by Sell-Side Brokerages

Shares of Frontline PLC (NYSE:FRO) have been given an average rating of “Hold” by the eleven ratings firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $45.37.

A number of research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Frontline from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 29th. Weiss Ratings raised shares of Frontline from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Nordea Equity Research downgraded shares of Frontline to a “hold” rating in a research report on Monday, August 31st. DZ Bank lowered shares of Frontline from a “hold” rating to a “sell” rating in a research note on Friday, August 21st. Finally, BTIG Research increased their price target on Frontline from $55.00 to $70.00 and gave the company a “buy” rating in a report on Friday, September 18th.

Frontline Price Performance

FRO opened at $52.90 on Friday. The company’s 50-day simple moving average is $49.15 and its two-hundred day simple moving average is $41.47. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.87 and a current ratio of 1.87. The stock has a market capitalization of $11.78 billion, a P/E ratio of 7.93 and a beta of 0.15. Frontline has a 52-week low of $20.47 and a 52-week high of $59.75.

Frontline (NYSE:FRO) last announced its quarterly earnings results on Friday, August 28th. The shipping company reported $2.61 EPS for the quarter, missing analysts’ consensus estimates of $2.74 by ($0.13). Frontline had a return on equity of 44.24% and a net margin of 49.47%. The company had revenue of $943.30 million during the quarter, compared to the consensus estimate of $758.89 million. During the same quarter in the prior year, the firm earned $0.36 earnings per share. The business’s revenue was up 96.5% compared to the same quarter last year.

Frontline Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Friday, September 18th were issued a $2.61 dividend. The ex-dividend date of this dividend was Friday, September 18th. This is an increase from Frontline’s previous quarterly dividend of $1.55. This represents a $10.44 annualized dividend and a dividend yield of 19.7%. Frontline’s dividend payout ratio is presently 156.52%.

Institutional Trading of Frontline

Hedge funds have recently bought and sold shares of the company. Signaturefd LLC lifted its holdings in Frontline by 11.6% in the third quarter. Signaturefd LLC now owns 2,177 shares of the shipping company’s stock valued at $107,000 after acquiring an additional 227 shares during the period. Carolina Wealth Advisors LLC boosted its position in Frontline by 2.1% in the third quarter. Carolina Wealth Advisors LLC now owns 88,352 shares of the shipping company’s stock worth $4,353,000 after purchasing an additional 1,779 shares during the last quarter. Vision Financial Markets LLC purchased a new position in Frontline in the third quarter worth about $1,557,000. U S Global Investors Inc. purchased a new position in Frontline in the third quarter worth about $732,000. Finally, SeaCrest Wealth Management LLC bought a new stake in shares of Frontline during the 3rd quarter valued at about $283,000. Hedge funds and other institutional investors own 22.70% of the company’s stock.

Frontline Company Profile

Frontline plc is a maritime shipping company that owns and operates tankers used to transport crude oil and refined petroleum products worldwide. The company’s fleet includes very large crude carriers (VLCCs), Suezmax tankers, and Aframax and Long Range 2 (LR2) vessels, serving international energy markets.

Frontline’s vessels are employed through a combination of voyage charters, time charters and pool arrangements. Its operations connect major oil-producing regions with refineries and consuming markets across the Atlantic, Pacific and other global trade routes.

Founded in 1985, Frontline is incorporated in Bermuda and has corporate operations based in Limassol, Cyprus.