Frontline (NYSE:FRO) was downgraded by research analysts at DNB Markets from a “buy” rating to a “hold” rating in a note issued to investors on Friday, The Fly reports.
Several other research firms have also weighed in on FRO. Morgan Stanley raised their price objective on Frontline from $5.00 to $6.00 and gave the stock a “hold” rating in a research note on Monday, November 19th. Zacks Investment Research raised Frontline from a “hold” rating to a “strong-buy” rating and set a $6.75 price objective for the company in a research note on Wednesday, November 21st. ValuEngine raised Frontline from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. Danske raised Frontline from a “sell” rating to a “buy” rating in a research note on Thursday, November 15th. Finally, Jefferies Financial Group assumed coverage on Frontline in a research note on Monday, October 1st. They set a “hold” rating and a $6.00 price objective for the company. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Frontline presently has a consensus rating of “Buy” and an average price target of $6.13.
Shares of FRO stock opened at $8.12 on Friday. Frontline has a 1 year low of $3.79 and a 1 year high of $8.33. The firm has a market cap of $1.26 billion, a PE ratio of -270.67 and a beta of 0.97. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.32 and a current ratio of 1.32.
Frontline (NYSE:FRO) last released its quarterly earnings data on Friday, November 16th. The shipping company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.08. The business had revenue of $89.21 million during the quarter, compared to analyst estimates of $79.90 million. Frontline had a negative return on equity of 3.87% and a negative net margin of 40.17%. During the same period last year, the company posted ($0.08) EPS. As a group, research analysts expect that Frontline will post -0.29 earnings per share for the current year.
Institutional investors have recently modified their holdings of the company. Paloma Partners Management Co acquired a new stake in shares of Frontline in the third quarter worth $106,000. Macquarie Group Ltd. acquired a new stake in shares of Frontline in the third quarter worth $114,000. Trexquant Investment LP acquired a new stake in shares of Frontline in the third quarter worth $129,000. Segantii Capital Management Ltd acquired a new stake in shares of Frontline in the second quarter worth $143,000. Finally, Panagora Asset Management Inc. boosted its position in shares of Frontline by 38,407.0% in the third quarter. Panagora Asset Management Inc. now owns 38,507 shares of the shipping company’s stock worth $224,000 after buying an additional 38,407 shares during the period. 16.85% of the stock is owned by institutional investors and hedge funds.
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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