Frontline (NYSE:FRO) Upgraded at Fearnley Fonds

Fearnley Fonds upgraded shares of Frontline (NYSE:FRO) to a strong-buy rating in a research note issued to investors on Friday, Zacks.com reports.

Several other analysts have also recently commented on the stock. Evercore ISI decreased their price target on shares of Frontline from $33.00 to $32.00 and set an outperform rating on the stock in a research note on Tuesday, July 23rd. Jefferies Financial Group reiterated a buy rating and issued a $30.00 price target on shares of Frontline in a research note on Friday, August 30th. Finally, StockNews.com upgraded shares of Frontline to a sell rating in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $27.58.

Frontline Trading Up 0.1 %

Shares of Frontline stock opened at $22.85 on Friday. The company has a market capitalization of $5.09 billion, a P/E ratio of 7.99 and a beta of 0.04. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.38 and a current ratio of 1.38. The company has a fifty day moving average of $23.39 and a 200 day moving average of $24.43. Frontline has a fifty-two week low of $17.02 and a fifty-two week high of $29.39.

Frontline (NYSE:FRO) last announced its quarterly earnings results on Friday, August 30th. The shipping company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.03). The company had revenue of $409.72 million during the quarter, compared to analysts’ expectations of $383.88 million. Frontline had a return on equity of 19.73% and a net margin of 29.42%. During the same quarter in the previous year, the firm earned $0.94 EPS. On average, sell-side analysts anticipate that Frontline will post 2.62 earnings per share for the current fiscal year.

Frontline Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders 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 10.85%. The ex-dividend date was Friday, September 13th. Frontline’s dividend payout ratio is 86.71%.

Institutional Trading of Frontline

Hedge funds have recently made changes to their positions in the business. ICA Group Wealth Management LLC purchased a new stake in shares of Frontline during the 4th quarter valued at about $25,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Frontline during the 2nd quarter valued at about $31,000. Summit Securities Group LLC raised its position in shares of Frontline by 75.0% during the 2nd quarter. Summit Securities Group LLC now owns 1,400 shares of the shipping company’s stock valued at $36,000 after buying an additional 600 shares in the last quarter. Blue Trust Inc. raised its position in shares of Frontline by 17,866.7% during the 2nd quarter. Blue Trust Inc. now owns 2,156 shares of the shipping company’s stock valued at $56,000 after buying an additional 2,144 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Frontline by 4,965.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,711 shares of the shipping company’s stock worth $116,000 after purchasing an additional 4,618 shares during the period. 22.70% of the stock is currently owned by hedge funds and other 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.