Frontline Ltd. (NYSE:FRO) Given Consensus Rating of “Hold” by Analysts
Frontline Ltd. (NYSE:FRO) has been given a consensus rating of “Hold” by the eight research firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $6.25.
Several brokerages have recently weighed in on FRO. Zacks Investment Research downgraded Frontline from a “hold” rating to a “sell” rating in a research report on Friday, May 5th. Credit Suisse Group cut their price target on Frontline from $8.00 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 31st. Evercore ISI cut Frontline from an “in-line” rating to an “underperform” rating and cut their price target for the stock from $6.00 to $4.00 in a research note on Friday. ValuEngine cut Frontline from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, BidaskClub upgraded Frontline from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its position in Frontline by 3.8% in the first quarter. Legal & General Group Plc now owns 16,056 shares of the shipping company’s stock valued at $108,000 after buying an additional 581 shares during the period. American International Group Inc. boosted its position in Frontline by 7.6% in the first quarter. American International Group Inc. now owns 40,205 shares of the shipping company’s stock valued at $271,000 after buying an additional 2,841 shares during the period. KCG Holdings Inc. boosted its position in Frontline by 40.3% in the first quarter. KCG Holdings Inc. now owns 25,073 shares of the shipping company’s stock valued at $169,000 after buying an additional 7,205 shares during the period. Teachers Advisors LLC boosted its position in Frontline by 6.8% in the first quarter. Teachers Advisors LLC now owns 114,881 shares of the shipping company’s stock valued at $774,000 after buying an additional 7,266 shares during the period. Finally, Swiss National Bank boosted its position in Frontline by 8.6% in the first quarter. Swiss National Bank now owns 126,219 shares of the shipping company’s stock valued at $845,000 after buying an additional 10,000 shares during the period. Institutional investors and hedge funds own 10.90% of the company’s stock.
Frontline (FRO) traded down 0.34% during midday trading on Monday, reaching $5.88. 116,345 shares of the company traded hands. The firm has a 50-day moving average of $5.73 and a 200-day moving average of $6.51. The stock has a market capitalization of $998.48 million, a P/E ratio of 15.35 and a beta of 1.97. Frontline has a 1-year low of $5.35 and a 1-year high of $8.90.
Frontline (NYSE:FRO) last issued its earnings results on Tuesday, May 30th. The shipping company reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.04. Frontline had a return on equity of 8.76% and a net margin of 9.25%. The company had revenue of $121.94 million during the quarter, compared to the consensus estimate of $103.70 million. On average, analysts predict that Frontline will post $0.05 earnings per share for the current year.
WARNING: This report was first reported by American Banking News and is owned by of American Banking News. If you are accessing this report on another website, it was stolen and republished in violation of United States & international trademark and copyright legislation. The legal version of this report can be viewed at https://www.americanbankingnews.com/2017/07/24/frontline-ltd-nysefro-given-consensus-rating-of-hold-by-analysts.html.
Frontline Company Profile
Receive News & Ratings for Frontline Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Frontline Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.