Shares of Frontline Ltd. (NYSE:FRO) have been given a consensus recommendation of “Hold” by the six analysts that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $5.50.
Several brokerages have recently issued reports on FRO. Zacks Investment Research raised shares of Frontline from a “strong sell” rating to a “hold” rating in a report on Thursday, January 25th. Seaport Global Securities set a $7.00 price target on shares of Frontline and gave the company a “buy” rating in a report on Thursday, January 4th.
Institutional investors and hedge funds have recently made changes to their positions in the company. Northern Trust Corp raised its stake in shares of Frontline by 197.8% during the second quarter. Northern Trust Corp now owns 1,795,843 shares of the shipping company’s stock valued at $10,290,000 after purchasing an additional 1,192,899 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of Frontline by 18.2% during the second quarter. Teachers Advisors LLC now owns 135,816 shares of the shipping company’s stock valued at $778,000 after purchasing an additional 20,935 shares in the last quarter. State Street Corp raised its stake in shares of Frontline by 18.1% during the second quarter. State Street Corp now owns 1,282,370 shares of the shipping company’s stock valued at $7,351,000 after purchasing an additional 196,952 shares in the last quarter. Jane Street Group LLC raised its stake in shares of Frontline by 218.0% during the third quarter. Jane Street Group LLC now owns 398,059 shares of the shipping company’s stock valued at $2,435,000 after purchasing an additional 272,875 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised 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 purchasing an additional 21,700 shares in the last quarter. 12.62% of the stock is owned by institutional investors.
Shares of Frontline (FRO) traded up $0.04 on Friday, hitting $4.05. 224,583 shares of the stock traded hands, compared to its average volume of 710,753. Frontline has a 52 week low of $3.79 and a 52 week high of $7.22. The firm has a market capitalization of $689.40, a P/E ratio of 134.04 and a beta of 1.80. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.22.
Frontline (NYSE:FRO) last announced its quarterly earnings results on Wednesday, November 22nd. The shipping company reported ($0.14) earnings per share (EPS) for the quarter, missing the 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 firm had revenue of $75.86 million for the quarter, compared to analyst estimates of $78.30 million. equities analysts expect that Frontline will post -0.15 EPS for the current fiscal year.
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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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