Frontline Ltd. (NYSE:FRO – Get Rating) gapped up prior to trading on Friday . The stock had previously closed at $10.83, but opened at $11.25. Frontline shares last traded at $11.10, with a volume of 23,417 shares.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the company. StockNews.com cut Frontline from a "hold" rating to a "sell" rating in a report on Monday, September 19th. Jefferies Financial Group raised Frontline from a "hold" rating to a "buy" rating in a research report on Tuesday, September 6th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Frontline from $7.00 to $12.00 and gave the company a "hold" rating in a research report on Tuesday, September 6th.
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Frontline Stock Performance
The stock has a market capitalization of $2.48 billion, a P/E ratio of 34.94 and a beta of 0.10. The stock has a 50 day moving average of $11.59 and a 200 day moving average of $9.87. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.06 and a current ratio of 1.06.
Frontline (NYSE:FRO – Get Rating) last released its quarterly earnings results on Thursday, August 25th. The shipping company reported $0.21 earnings per share (EPS) for the quarter. Frontline had a return on equity of 0.01% and a net
margin of 7.18%. The company had revenue of $159.19 million during the quarter, compared to analysts' expectations of $164.27 million. During the same quarter in the prior year, the business posted ($0.12) earnings per share. Equities analysts predict that Frontline Ltd. will post 1.24 EPS for the current year.
Frontline Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 16th will be paid a dividend of $0.15 per share. The ex-dividend date is Thursday, September 15th. This represents a $0.60 annualized dividend and a yield of 5.39%. Frontline's dividend payout ratio is currently 193.55%.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the company. Beacon Capital Management Inc. purchased a new stake in shares of Frontline during the first quarter valued at $25,000. Amundi lifted its holdings in shares of Frontline by 46.2% during the second quarter. Amundi now owns 4,389 shares of the shipping company's stock valued at $37,000 after purchasing an additional 1,386 shares during the last quarter. Quantbot Technologies LP lifted its holdings in shares of Frontline by 3,051.6% during the second quarter. Quantbot Technologies LP now owns 9,644 shares of the shipping company's stock valued at $85,000 after purchasing an additional 9,338 shares during the last quarter. First Republic Investment Management Inc. purchased a new stake in shares of Frontline during the second quarter valued at $89,000. Finally, Bank of Nova Scotia purchased a new stake in shares of Frontline during the second quarter valued at $90,000. Institutional investors own 26.59% of the company's stock.
Frontline Company Profile
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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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