Frontline Hits New 12-Month Low on Analyst Downgrade (FRO)
Frontline (NYSE:FRO) shares hit a new 52-week low on Friday after Clarkson Capital lowered their price target on the stock to $2.50, Analyst RN reports. The stock traded as low as $1.99 and last traded at $2.02, with a volume of 1,846,082 shares. The stock had previously closed at $2.25.
Several other analysts have also recently commented on the stock. Analysts at Zacks upgraded shares of Frontline from a “neutral” rating to an “outperform” rating in a research note on Friday, August 1st. They now have a $3.10 price target on the stock. Analysts at Jefferies Group raised their price target on shares of Frontline from $2.50 to $3.00 in a research note on Monday, July 28th. They now have a “hold” rating on the stock. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $2.33.
The stock’s 50-day moving average is $2.51 and its 200-day moving average is $3.13. The company’s market cap is $196.9 million.
Frontline (NYSE:FRO) last released its earnings data on Thursday, August 28th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.04. During the same quarter in the previous year, the company posted ($1.54) earnings per share. On average, analysts predict that Frontline will post $-0.63 earnings per share for the current fiscal year.
Frontline Ltd. is a Bermuda-based shipping company engaged primarily in the ownership and operation of oil tanker.
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