Shares of Frontline Ltd (NYSE:FRO) have been given a consensus recommendation of “Hold” by the seven brokerages that are covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $6.00.
A number of research firms have recently weighed in on FRO. ValuEngine raised shares of Frontline from a “sell” rating to a “hold” rating in a research report on Monday, June 18th. Wells Fargo & Co raised shares of Frontline from a “market perform” rating to an “outperform” rating and set a $5.00 target price for the company in a research report on Monday, June 18th. Finally, Deutsche Bank increased their target price on shares of Frontline from $5.00 to $6.00 and gave the company a “hold” rating in a research report on Tuesday.
Frontline stock opened at $5.54 on Tuesday. Frontline has a twelve month low of $3.79 and a twelve month high of $6.43. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.60.
Frontline (NYSE:FRO) last released its earnings results on Wednesday, August 22nd. The shipping company reported ($0.16) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.05. Frontline had a negative net margin of 47.14% and a negative return on equity of 4.71%. The firm had revenue of $166.82 million during the quarter, compared to the consensus estimate of $62.63 million. Frontline’s quarterly revenue was up 11.1% compared to the same quarter last year. analysts forecast that Frontline will post -0.39 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. boosted its holdings in Frontline by 12.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 142,463 shares of the shipping company’s stock worth $832,000 after buying an additional 15,600 shares during the period. Creative Planning boosted its holdings in Frontline by 37.4% in the 2nd quarter. Creative Planning now owns 63,300 shares of the shipping company’s stock worth $370,000 after buying an additional 17,240 shares during the period. Segantii Capital Management Ltd bought a new position in Frontline in the 2nd quarter worth approximately $143,000. UBS Group AG boosted its holdings in Frontline by 297.5% in the 1st quarter. UBS Group AG now owns 59,652 shares of the shipping company’s stock worth $264,000 after buying an additional 44,645 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new position in Frontline in the 1st quarter worth approximately $295,000. 17.28% of the stock is owned by 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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