Frontline Ltd (NYSE:FRO) has been given an average recommendation of “Hold” by the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $5.33.
Several equities analysts recently issued reports on FRO shares. DNB Markets upgraded Frontline from a “hold” rating to a “buy” rating in a research note on Tuesday, March 6th. Zacks Investment Research upgraded Frontline from a “sell” rating to a “hold” rating in a research note on Friday, April 6th. ValuEngine cut Frontline from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 1st. Finally, Wells Fargo & Co reduced their price objective on Frontline from $5.70 to $5.00 and set a “market perform” rating on the stock in a research note on Monday, June 4th.
Frontline traded down $0.04, hitting $5.66, during trading hours on Thursday, according to MarketBeat Ratings. 433,400 shares of the stock were exchanged, compared to its average volume of 520,647. Frontline has a 12 month low of $3.79 and a 12 month high of $6.50. The stock has a market capitalization of $957.69 million, a PE ratio of -188.67 and a beta of 1.81. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.25 and a quick ratio of 1.25.
Frontline (NYSE:FRO) last announced its quarterly earnings data on Thursday, May 31st. The shipping company reported ($0.08) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.09. Frontline had a negative return on equity of 3.50% and a negative net margin of 47.83%. The firm had revenue of $80.58 million for the quarter, compared to analysts’ expectations of $76.64 million. research analysts anticipate that Frontline will post -0.5 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of FRO. Renaissance Technologies LLC lifted its stake in Frontline by 61.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,437,640 shares of the shipping company’s stock valued at $6,599,000 after buying an additional 547,537 shares during the last quarter. Millennium Management LLC bought a new stake in Frontline in the fourth quarter valued at $2,263,000. Evermore Global Advisors LLC lifted its stake in Frontline by 6.5% in the first quarter. Evermore Global Advisors LLC now owns 5,589,522 shares of the shipping company’s stock valued at $24,762,000 after buying an additional 343,505 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Frontline in the first quarter valued at $1,120,000. Finally, Deutsche Bank AG lifted its stake in Frontline by 145.7% in the fourth quarter. Deutsche Bank AG now owns 398,487 shares of the shipping company’s stock valued at $1,828,000 after buying an additional 236,276 shares during the last quarter. Institutional investors own 14.46% 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. As of December 31, 2017, the company's fleet consisted of 61 vessels, including VLCC, Suezmax, and LR2/Aframax tankers with an aggregate capacity of approximately 11.6 million deadweight ton.
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