Frontline Ltd. (NYSE:FRO) – Investment analysts at Seaport Global Securities lowered their Q1 2017 earnings per share (EPS) estimates for shares of Frontline in a note issued to investors on Tuesday. Seaport Global Securities analyst M. Fyhr now expects that the firm will earn $0.15 per share for the quarter, down from their prior estimate of $0.22. Seaport Global Securities also issued estimates for Frontline’s Q2 2017 earnings at $0.18 EPS, Q3 2017 earnings at $0.19 EPS and Q4 2017 earnings at $0.20 EPS.
A number of other analysts also recently issued reports on the stock. Wells Fargo & Co. reiterated a “hold” rating on shares of Frontline in a report on Tuesday, September 27th. Zacks Investment Research raised shares of Frontline from a “sell” rating to a “hold” rating in a research note on Thursday, September 1st. Morgan Stanley reissued an “equal weight” rating and issued a $7.00 price objective (down from $10.00) on shares of Frontline in a research note on Friday, August 26th. Finally, Clarkson Capital reissued a “buy” rating on shares of Frontline in a research note on Friday, June 17th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $11.90.
Shares of Frontline (NYSE:FRO) traded up 0.81% on Wednesday, reaching $7.51. 154,677 shares of the company traded hands. The firm has a market capitalization of $1.17 billion, a P/E ratio of 4.92 and a beta of 2.30. The stock has a 50-day moving average price of $7.39 and a 200 day moving average price of $7.94. Frontline has a 1-year low of $6.80 and a 1-year high of $17.05.
Frontline (NYSE:FRO) last announced its earnings results on Wednesday, August 31st. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by $0.18. Frontline had a return on equity of 20.67% and a net margin of 31.41%.
Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Frontline by 551.1% in the second quarter. BlackRock Inc. now owns 15,015 shares of the company’s stock worth $119,000 after buying an additional 12,709 shares in the last quarter. BlackRock Investment Management LLC raised its stake in shares of Frontline by 43.5% in the second quarter. BlackRock Investment Management LLC now owns 266,747 shares of the company’s stock worth $2,099,000 after buying an additional 80,860 shares during the last quarter. BlackRock Advisors LLC raised its stake in shares of Frontline by 44.5% in the second quarter. BlackRock Advisors LLC now owns 21,491 shares of the company’s stock worth $169,000 after buying an additional 6,621 shares during the last quarter. Prudential Financial Inc. bought a new stake in shares of Frontline during the second quarter worth $298,000. Finally, Nationwide Fund Advisors raised its stake in shares of Frontline by 7.5% in the second quarter. Nationwide Fund Advisors now owns 126,924 shares of the company’s stock worth $999,000 after buying an additional 8,838 shares during the last quarter. 9.12% of the stock is owned by hedge funds and other institutional investors.
The company also recently declared a quarterly dividend, which was paid on Monday, September 19th. Investors of record on Monday, September 12th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, September 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 10.74%.
Frontline Ltd. is a shipping company. The Company is engaged in the seaborne transportation of crude oil and oil products. The Company operates through the tankers segment. The tankers segment includes crude oil tankers and product tankers. The Company operates through subsidiaries and partnerships located in Bermuda, India, the Philippines, Liberia, Norway, the United Kingdom and Singapore.
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