Shares of Frontline Ltd (NYSE:FRO) have earned an average rating of “Hold” from the eight brokerages that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $5.33.
FRO has been the topic of a number of recent analyst reports. ValuEngine cut shares of Frontline from a “sell” rating to a “strong sell” rating in a research note on Tuesday, May 29th. Wells Fargo & Co lowered their target price on Frontline from $5.70 to $5.00 and set a “market perform” rating on the stock in a report on Monday, June 4th. Zacks Investment Research raised Frontline from a “sell” rating to a “hold” rating in a report on Friday, April 6th. Finally, DNB Markets raised Frontline from a “hold” rating to a “buy” rating in a report on Tuesday, March 6th.
Shares of Frontline traded down $0.04, reaching $5.66, during midday trading on Thursday, according to MarketBeat.com. 433,400 shares of the company traded hands, compared to its average volume of 520,647. Frontline has a 52 week low of $3.79 and a 52 week high of $6.50. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.60. The stock has a market cap of $957.69 million, a P/E ratio of -188.67 and a beta of 1.81.
Frontline (NYSE:FRO) last issued its quarterly earnings data on Thursday, May 31st. The shipping company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.09. Frontline had a negative net margin of 47.83% and a negative return on equity of 3.50%. The business had revenue of $80.58 million for the quarter, compared to analysts’ expectations of $76.64 million. sell-side analysts anticipate that Frontline will post -0.5 earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Centenus Global Management LP acquired a new position in Frontline during the fourth quarter worth about $565,000. Virtu Financial LLC grew its holdings in Frontline by 299.3% during the fourth quarter. Virtu Financial LLC now owns 50,969 shares of the shipping company’s stock worth $234,000 after acquiring an additional 38,205 shares during the period. BlackRock Inc. grew its holdings in Frontline by 1.7% during the fourth quarter. BlackRock Inc. now owns 3,491,445 shares of the shipping company’s stock worth $16,025,000 after acquiring an additional 59,885 shares during the period. PEAK6 Investments L.P. acquired a new position in Frontline during the fourth quarter worth about $110,000. Finally, Renaissance Technologies LLC grew its holdings in Frontline by 61.5% during the fourth quarter. Renaissance Technologies LLC now owns 1,437,640 shares of the shipping company’s stock worth $6,599,000 after acquiring an additional 547,537 shares during the period. 14.46% of the stock is currently owned by hedge funds and other institutional investors.
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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