Seaport Global Securities Weighs in on Frontline Ltd.’s Q1 2017 Earnings (FRO)
Frontline Ltd. (NYSE:FRO) – Seaport Global Securities reduced their Q1 2017 earnings per share (EPS) estimates for shares of Frontline in a research note issued on Tuesday. Seaport Global Securities analyst M. Fyhr now anticipates that the firm will post earnings of $0.15 per share for the quarter, down from their previous estimate of $0.22. Seaport Global Securities also issued estimates for Frontline’s Q2 2017 earnings at $0.18 EPS, Q3 2017 earnings at $0.19 EPS and Q4 2017 earnings at $0.20 EPS.
A number of other equities analysts have also commented on FRO. Zacks Investment Research raised shares of Frontline from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a research report on Wednesday, July 6th. Clarkson Capital restated a “buy” rating on shares of Frontline in a research note on Friday, June 17th. Wells Fargo & Co. restated a “hold” rating on shares of Frontline in a research note on Tuesday, September 27th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $7.00 price objective (down previously from $10.00) on shares of Frontline in a research note on Friday, August 26th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Frontline presently has an average rating of “Hold” and an average target price of $11.90.
Frontline (NYSE:FRO) traded down 3.105% during mid-day trading on Wednesday, hitting $7.645. 413,503 shares of the company were exchanged. The stock’s 50 day moving average is $7.44 and its 200-day moving average is $7.95. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 5.007 and a beta of 2.30. Frontline has a 12-month low of $6.80 and a 12-month high of $17.05.
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Frontline (NYSE:FRO) last released its quarterly earnings data on Wednesday, August 31st. The company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.27 by $0.18. Frontline had a return on equity of 20.67% and a net margin of 31.41%.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 19th. Shareholders of record on Monday, September 12th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, September 8th. This represents a $0.80 dividend on an annualized basis and a yield of 10.14%.
Large investors have recently bought and sold shares of the company. BlackRock Inc. increased its stake in Frontline by 551.1% in the second quarter. BlackRock Inc. now owns 15,015 shares of the company’s stock worth $119,000 after buying an additional 12,709 shares in the last quarter. Capital Fund Management S.A. acquired a new stake in Frontline during the second quarter worth $129,000. Strs Ohio increased its stake in Frontline by 38.6% in the second quarter. Strs Ohio now owns 21,600 shares of the company’s stock worth $169,000 after buying an additional 6,020 shares in the last quarter. BlackRock Advisors LLC increased its stake in Frontline by 44.5% in the second quarter. BlackRock Advisors LLC now owns 21,491 shares of the company’s stock worth $169,000 after buying an additional 6,621 shares in the last quarter. Finally, Emerald Acquisition Ltd. acquired a new stake in Frontline during the second quarter worth $178,000. Hedge funds and other institutional investors own 9.12% of the company’s stock.
Frontline Ltd. is a shipping company. The Company is engaged in the seaborne transportation of crude oil and oil products. The Company operates through the tankers segment. The tankers segment includes crude oil tankers and product tankers. The Company operates through subsidiaries and partnerships located in Bermuda, India, the Philippines, Liberia, Norway, the United Kingdom and Singapore.
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