Frontline (NYSE:FRO) Hits New 1-Year High at $14.74

Frontline Ltd. (NYSE:FROGet Rating)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $14.74 and last traded at $14.42, with a volume of 55316 shares traded. The stock had previously closed at $14.30.

Wall Street Analysts Forecast Growth

FRO has been the subject of several recent research reports. StockNews.com lowered Frontline from a “hold” rating to a “sell” rating in a report on Thursday, November 10th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Frontline from $12.00 to $15.00 in a research report on Thursday, October 27th. Finally, Jefferies Financial Group raised shares of Frontline from a “hold” rating to a “buy” rating in a research report on Tuesday, September 6th.

Frontline Trading Down 1.7 %

The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 45.74 and a beta of 0.19. The company has a 50-day moving average price of $12.57 and a 200-day moving average price of $10.90. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.00.

Frontline (NYSE:FROGet Rating) last issued its quarterly earnings results on Thursday, August 25th. The shipping company reported $0.21 earnings per share (EPS) for the quarter. The company had revenue of $159.19 million for the quarter, compared to the consensus estimate of $164.27 million. Frontline had a return on equity of 0.01% and a net margin of 7.18%. During the same period last year, the business posted ($0.12) earnings per share. Research analysts predict that Frontline Ltd. will post 1.36 EPS for the current fiscal year.

Frontline Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 16th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend was Thursday, September 15th. Frontline’s dividend payout ratio (DPR) is presently 193.55%.

Institutional Investors Weigh In On Frontline

A number of institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in Frontline by 10.9% during the second quarter. Price T Rowe Associates Inc. MD now owns 12,018 shares of the shipping company’s stock worth $106,000 after buying an additional 1,178 shares in the last quarter. Amundi grew its position in Frontline by 46.2% during the second quarter. Amundi now owns 4,389 shares of the shipping company’s stock worth $37,000 after buying an additional 1,386 shares in the last quarter. FMR LLC lifted its stake in Frontline by 11.4% during the second quarter. FMR LLC now owns 14,712 shares of the shipping company’s stock worth $130,000 after purchasing an additional 1,501 shares during the period. Larson Financial Group LLC lifted its stake in Frontline by 6.3% during the third quarter. Larson Financial Group LLC now owns 31,390 shares of the shipping company’s stock worth $343,000 after purchasing an additional 1,847 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in Frontline by 2.3% during the third quarter. The Manufacturers Life Insurance Company now owns 105,216 shares of the shipping company’s stock worth $1,150,000 after purchasing an additional 2,358 shares during the period. 26.59% of the stock is owned by institutional investors and hedge funds.

Frontline Company Profile

(Get Rating)

Frontline Ltd., 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, 2021, 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 Hamilton, Bermuda.

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