Shares of Frontline Ltd. (NYSE:FRO) have been given a consensus rating of “Hold” by the ten research firms that are covering the stock. Seven analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $10.33.
Several equities research analysts have issued reports on the stock. Zacks Investment Research cut shares of Frontline from a “hold” rating to a “strong sell” rating in a research note on Monday, August 22nd. Morgan Stanley reissued an “equal weight” rating and issued a $7.00 target price (down from $10.00) on shares of Frontline in a research report on Friday, August 26th. Finally, Wells Fargo & Co. reissued a “hold” rating on shares of Frontline in a research report on Tuesday, September 27th.
Shares of Frontline (NYSE:FRO) traded up 4.23% during midday trading on Wednesday, hitting $7.88. 548,695 shares of the company’s stock were exchanged. Frontline has a 1-year low of $6.80 and a 1-year high of $17.05. The stock has a market cap of $1.23 billion, a PE ratio of 5.16 and a beta of 2.30. The stock’s 50 day moving average is $7.33 and its 200-day moving average is $7.93.
Frontline (NYSE:FRO) last released its quarterly earnings results on Wednesday, August 31st. The company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by $0.18. Frontline had a return on equity of 20.67% and a net margin of 31.41%. Analysts predict that Frontline will post $1.13 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 19th. Shareholders of record on Monday, September 12th were given 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 yield of 10.58%.
A number of hedge funds and other institutional investors have recently made changes to their positions in FRO. Nisa Investment Advisors LLC acquired a new position in shares of Frontline during the third quarter worth $108,000. BlackRock Inc. raised its stake 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. Capital Fund Management S.A. purchased a new stake in Frontline during the second quarter worth about $129,000. Strs Ohio raised its stake in Frontline by 38.6% in the second quarter. Strs Ohio now owns 21,600 shares of the company’s stock worth $169,000 after buying an additional 6,020 shares in the last quarter. Finally, BlackRock Advisors LLC raised its stake in 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 in the last quarter. 9.12% of the stock is currently owned by hedge funds and other institutional investors.
Frontline Company Profile
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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