Frontline Ltd (NYSE:FRO) declared a — dividend on Wednesday, December 4th, Wall Street Journal reports. Stockholders of record on Wednesday, December 11th will be paid a dividend of 0.10 per share by the shipping company on Friday, December 20th. The ex-dividend date of this dividend is Tuesday, December 10th.
Shares of FRO traded up $0.22 during mid-day trading on Wednesday, hitting $10.92. The company’s stock had a trading volume of 33,463 shares, compared to its average volume of 1,127,010. The stock’s 50-day moving average is $10.57 and its two-hundred day moving average is $8.88. The firm has a market capitalization of $2.15 billion, a PE ratio of -78.18, a price-to-earnings-growth ratio of 2.19 and a beta of 0.98. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.23 and a current ratio of 1.23. Frontline has a one year low of $4.82 and a one year high of $11.91.
Frontline (NYSE:FRO) last announced its earnings results on Wednesday, November 27th. The shipping company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.09). The company had revenue of $187.64 million for the quarter, compared to the consensus estimate of $106.40 million. Frontline had a return on equity of 5.52% and a net margin of 6.76%. The company’s revenue was down .6% compared to the same quarter last year. During the same period last year, the firm posted ($0.05) EPS. Analysts expect that Frontline will post 0.84 EPS for the current fiscal year.
Several research analysts have recently issued reports on FRO shares. Evercore ISI upgraded shares of Frontline from an “in-line” rating to an “outperform” rating and set a $14.00 price objective on the stock in a report on Friday, October 18th. BTIG Research increased their target price on shares of Frontline from $12.00 to $18.00 in a research note on Tuesday, November 5th. Zacks Investment Research raised Frontline from a “hold” rating to a “strong-buy” rating and set a $10.00 target price on the stock in a research report on Wednesday, September 18th. ValuEngine upgraded Frontline from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Nordea Equity Research raised Frontline from a “sell” rating to a “buy” rating in a report on Wednesday, August 28th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $9.73.
Frontline Company Profile
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, 2018, the company's fleet consisted of 61 vessels, which included very large crude carrier, Suezmax, and LR2/Aframax tankers with an aggregate capacity of approximately 11.6 million deadweight ton.
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