Frontline Ltd. (FRO) Given Average Recommendation of “Hold” by Analysts

Shares of Frontline Ltd. (NYSE:FRO) have received an average rating of “Hold” from the six analysts that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $5.50.

FRO has been the topic of several research analyst reports. Zacks Investment Research downgraded Frontline from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. Seaport Global Securities set a $7.00 price objective on Frontline and gave the company a “buy” rating in a research report on Thursday, January 4th.

Shares of Frontline (NYSE FRO) traded down $0.04 during trading on Friday, hitting $3.95. The stock had a trading volume of 1,080,000 shares, compared to its average volume of 717,586. Frontline has a fifty-two week low of $3.79 and a fifty-two week high of $7.24. The stock has a market capitalization of $5,530.00, a P/E ratio of 26.33 and a beta of 1.81. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.22.

Frontline (NYSE:FRO) last announced its quarterly earnings data on Wednesday, November 22nd. The shipping company reported ($0.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.01). Frontline had a net margin of 0.29% and a return on equity of 1.70%. The business had revenue of $75.86 million during the quarter, compared to analysts’ expectations of $78.30 million. analysts forecast that Frontline will post -0.15 earnings per share for the current year.

Several large investors have recently bought and sold shares of FRO. Bank of New York Mellon Corp lifted its position in shares of Frontline by 7.7% in the second quarter. Bank of New York Mellon Corp now owns 257,954 shares of the shipping company’s stock worth $1,479,000 after buying an additional 18,354 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Frontline by 117.8% in the second quarter. Wells Fargo & Company MN now owns 143,363 shares of the shipping company’s stock worth $822,000 after buying an additional 77,539 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Frontline by 48.8% in the second quarter. Alliancebernstein L.P. now owns 100,600 shares of the shipping company’s stock worth $576,000 after buying an additional 33,000 shares in the last quarter. Teachers Advisors LLC lifted its position in shares of Frontline by 18.2% in the second quarter. Teachers Advisors LLC now owns 135,816 shares of the shipping company’s stock worth $778,000 after buying an additional 20,935 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its stake in shares of Frontline by 12.0% during the second quarter. TIAA CREF Investment Management LLC now owns 202,366 shares of the shipping company’s stock valued at $1,160,000 after buying an additional 21,700 shares during the last quarter. Institutional investors own 12.95% of the company’s stock.

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Frontline Company Profile

Frontline Ltd. is a shipping company. The Company is engaged in the seaborne transportation of crude oil and oil products. Its tankers segment includes crude oil tankers and product tankers. As of December 31, 2016, the Company’s fleet consisted of 28 vessels owned by the Company (seven very large crude carriers (VLCCs), 10 Suezmax tankers and 11 Aframax/LR2 tankers); 13 vessels that are under capital leases (11 VLCCs and two Suezmax tankers); one VLCC that is recorded as an investment in finance lease; four vessels chartered-in for periods of 12 months, including extension options (two VLCCs and two Suezmax tankers); two VLCCs where cost/revenue is split equally with a third party (of which one is chartered-in by it and one by a third party); three medium range product tankers that are chartered-in on short term time charters with a remaining duration of less than two months, and five vessels that are under commercial management (two Suezmax tankers and three Aframax oil tankers).

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