Frontline Ltd. (FRO) Given Consensus Rating of “Hold” by Brokerages

Frontline Ltd. (NYSE:FRO) has earned a consensus recommendation of “Hold” from the seven analysts that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $5.50.

Several equities research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Frontline from a “hold” rating to a “sell” rating in a research note on Tuesday, March 6th. ValuEngine downgraded shares of Frontline from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 1st. Seaport Global Securities set a $7.00 target price on shares of Frontline and gave the company a “buy” rating in a research note on Thursday, January 4th. Finally, DNB Markets upgraded shares of Frontline from a “hold” rating to a “buy” rating in a research note on Tuesday, March 6th.

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NYSE:FRO traded down $0.23 during mid-day trading on Friday, hitting $4.29. The stock had a trading volume of 464,377 shares, compared to its average volume of 418,648. Frontline has a twelve month low of $3.79 and a twelve month high of $6.95. The company has a market capitalization of $767.51, a P/E ratio of -143.00 and a beta of 1.68. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.17 and a current ratio of 1.45.

Frontline (NYSE:FRO) last issued its earnings results on Wednesday, February 28th. The shipping company reported $0.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.11. Frontline had a negative net margin of 40.98% and a negative return on equity of 0.31%. The business had revenue of $99.20 million during the quarter, compared to the consensus estimate of $88.40 million. equities analysts forecast that Frontline will post -0.34 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of FRO. State Street Corp lifted its position in Frontline by 18.1% during the second quarter. State Street Corp now owns 1,282,370 shares of the shipping company’s stock worth $7,351,000 after acquiring an additional 196,952 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Frontline by 17.6% during the second quarter. The Manufacturers Life Insurance Company now owns 59,870 shares of the shipping company’s stock worth $343,000 after acquiring an additional 8,958 shares during the last quarter. Legal & General Group Plc lifted its position in Frontline by 110.6% during the third quarter. Legal & General Group Plc now owns 33,815 shares of the shipping company’s stock worth $204,000 after acquiring an additional 17,759 shares during the last quarter. Engineers Gate Manager LP lifted its position in Frontline by 243.2% during the third quarter. Engineers Gate Manager LP now owns 36,664 shares of the shipping company’s stock worth $221,000 after acquiring an additional 25,981 shares during the last quarter. Finally, Jane Street Group LLC lifted its position in Frontline by 218.0% during the third quarter. Jane Street Group LLC now owns 398,059 shares of the shipping company’s stock worth $2,435,000 after acquiring an additional 272,875 shares during the last quarter. Hedge funds and other institutional investors own 14.41% of the company’s stock.

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About Frontline

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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