Frontline (FRO) Given a $8.00 Price Target by Morgan Stanley Analysts

Frontline (NYSE:FRO) has been given a $8.00 price target by equities researchers at Morgan Stanley in a research report issued on Friday, TipRanks reports. The firm presently has a “hold” rating on the shipping company’s stock. Morgan Stanley’s price target suggests a potential downside of 11.21% from the company’s current price.

Other equities analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Frontline from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 26th. ValuEngine upgraded shares of Frontline from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, DNB Markets upgraded shares of Frontline from a “hold” rating to a “buy” rating in a research report on Tuesday, February 12th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $7.13.

Shares of FRO stock traded down $0.25 on Friday, reaching $9.01. 617,044 shares of the company were exchanged, compared to its average volume of 466,214. The stock has a market capitalization of $1.53 billion, a P/E ratio of -64.36, a P/E/G ratio of 4.96 and a beta of 1.13. The company has a quick ratio of 1.12, a current ratio of 1.44 and a debt-to-equity ratio of 1.46. Frontline has a 1 year low of $4.46 and a 1 year high of $9.32.

Frontline (NYSE:FRO) last released its earnings results on Thursday, May 16th. The shipping company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. The business had revenue of $140.76 million during the quarter, compared to analysts’ expectations of $148.24 million. Frontline had a negative net margin of 1.20% and a negative return on equity of 2.04%. During the same quarter in the previous year, the company earned ($0.08) earnings per share. On average, analysts expect that Frontline will post 0.36 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of FRO. Odey Asset Management Group Ltd boosted its position in Frontline by 2,276.9% during the fourth quarter. Odey Asset Management Group Ltd now owns 3,422,053 shares of the shipping company’s stock worth $18,924,000 after acquiring an additional 3,278,079 shares during the last quarter. Deutsche Bank AG boosted its holdings in Frontline by 130.7% in the 4th quarter. Deutsche Bank AG now owns 740,715 shares of the shipping company’s stock valued at $4,094,000 after purchasing an additional 419,702 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Frontline by 213.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 481,311 shares of the shipping company’s stock valued at $3,110,000 after purchasing an additional 327,821 shares during the last quarter. Jane Street Group LLC boosted its holdings in Frontline by 492.2% in the 4th quarter. Jane Street Group LLC now owns 133,129 shares of the shipping company’s stock valued at $751,000 after purchasing an additional 110,648 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in Frontline by 2.9% in the 4th quarter. BlackRock Inc. now owns 3,739,119 shares of the shipping company’s stock valued at $20,678,000 after purchasing an additional 105,778 shares during the last quarter. Hedge funds and other institutional investors own 18.72% 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. It owns and operates oil and product tankers. As of December 31, 2018, the company's fleet consisted of 61 vessels, which included very large crude carrier, Suezmax, and LR2/Aframax tankers with an aggregate capacity of approximately 11.6 million deadweight ton.

Recommended Story: How Do Investors Open a Backdoor Roth IRA?

Analyst Recommendations for Frontline (NYSE:FRO)

Receive News & Ratings for Frontline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Frontline and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply