FRO has been the subject of a number of other reports. Nordea Equity Research upgraded shares of Frontline from a sell rating to a buy rating in a report on Wednesday, August 28th. BTIG Research lifted their target price on Frontline from $12.00 to $18.00 in a report on Tuesday, November 5th. Zacks Investment Research upgraded Frontline from a hold rating to a strong-buy rating and set a $10.00 price objective for the company in a report on Wednesday, September 18th. Finally, Evercore ISI upgraded shares of Frontline from an in-line rating to an outperform rating and set a $14.00 target price on the stock in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. Frontline currently has an average rating of Hold and an average price target of $10.58.
Shares of NYSE FRO traded up $0.18 on Tuesday, reaching $12.65. 663,600 shares of the company’s stock traded hands, compared to its average volume of 870,729. Frontline has a 12 month low of $4.82 and a 12 month high of $12.79. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 1.46. The company has a market cap of $2.38 billion, a price-to-earnings ratio of -90.36, a price-to-earnings-growth ratio of 2.98 and a beta of 0.98. The business’s 50 day simple moving average is $10.99 and its two-hundred day simple moving average is $9.23.
Frontline (NYSE:FRO) last released its earnings results on Wednesday, November 27th. The shipping company reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.09). The company had revenue of $187.64 million during the quarter, compared to the consensus estimate of $106.40 million. Frontline had a return on equity of 5.56% and a net margin of 6.76%. The company’s revenue was down .6% compared to the same quarter last year. During the same period last year, the firm posted ($0.05) earnings per share. Analysts forecast that Frontline will post 0.84 earnings per share for the current fiscal year.
The business also recently declared a — dividend, which was paid on Friday, December 20th. Shareholders of record on Wednesday, December 11th were issued a dividend of $0.10 per share. The ex-dividend date was Tuesday, December 10th. Frontline’s dividend payout ratio is presently -285.71%.
Several large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new stake in Frontline in the 2nd quarter worth approximately $538,000. Allianz Asset Management GmbH lifted its stake in shares of Frontline by 29.6% during the 2nd quarter. Allianz Asset Management GmbH now owns 490,378 shares of the shipping company’s stock valued at $3,923,000 after buying an additional 111,886 shares in the last quarter. Teza Capital Management LLC bought a new position in Frontline in the 2nd quarter worth $99,000. Russell Investments Group Ltd. bought a new stake in Frontline during the second quarter valued at about $150,000. Finally, Macquarie Group Ltd. purchased a new position in shares of Frontline in the second quarter valued at about $260,000. Institutional investors own 21.06% 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.
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