Frontline Ltd (NYSE:FRO) has earned a consensus rating of “Hold” from the ten research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $7.50.
Several brokerages recently issued reports on FRO. Zacks Investment Research raised Frontline from a “hold” rating to a “strong-buy” rating and set a $9.00 target price for the company in a research report on Wednesday, July 24th. ValuEngine lowered Frontline from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. TheStreet raised Frontline from a “d+” rating to a “c-” rating in a research report on Monday, May 20th. Jefferies Financial Group set a $8.00 price objective on Frontline and gave the stock a “hold” rating in a research report on Friday, July 5th. Finally, Morgan Stanley set a $8.00 price objective on Frontline and gave the stock a “hold” rating in a research report on Friday, May 17th.
NYSE:FRO traded up $0.27 during trading hours on Tuesday, hitting $7.18. 44,983 shares of the company were exchanged, compared to its average volume of 503,845. The company has a market cap of $1.22 billion, a PE ratio of -51.29, a price-to-earnings-growth ratio of 3.58 and a beta of 1.02. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.40. Frontline has a one year low of $4.46 and a one year high of $9.54. The business’s fifty day moving average is $7.79.
Frontline (NYSE:FRO) last announced its earnings results on Thursday, May 16th. The shipping company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.03. The business had revenue of $140.76 million during the quarter, compared to analyst estimates of $148.24 million. Frontline had a return on equity of 3.08% and a net margin of 5.52%. During the same period last year, the company earned ($0.08) EPS. On average, research analysts anticipate that Frontline will post 0.4 EPS for the current year.
Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of Montreal Can grew its stake in shares of Frontline by 24.7% in the 2nd quarter. Bank of Montreal Can now owns 10,048 shares of the shipping company’s stock valued at $80,000 after buying an additional 1,993 shares during the period. Virtu Financial LLC grew its stake in shares of Frontline by 16.4% in the 1st quarter. Virtu Financial LLC now owns 17,047 shares of the shipping company’s stock valued at $110,000 after buying an additional 2,403 shares during the period. Swiss National Bank grew its stake in shares of Frontline by 2.1% in the 2nd quarter. Swiss National Bank now owns 142,182 shares of the shipping company’s stock valued at $1,153,000 after buying an additional 2,920 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Frontline by 1.6% in the 4th quarter. Bank of New York Mellon Corp now owns 262,884 shares of the shipping company’s stock valued at $1,454,000 after buying an additional 4,172 shares during the period. Finally, Legal & General Group Plc grew its stake in shares of Frontline by 37.8% in the 4th quarter. Legal & General Group Plc now owns 36,048 shares of the shipping company’s stock valued at $200,000 after buying an additional 9,886 shares during the period. Institutional investors own 18.80% of the company’s stock.
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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