Shares of Frontline Ltd (NYSE:FRO) have received an average recommendation of “Hold” from the six analysts that are covering the firm. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $8.00.
Several equities research analysts have weighed in on the company. Zacks Investment Research raised Frontline from a “sell” rating to a “hold” rating in a research report on Monday, February 13th. Credit Suisse Group AG reaffirmed a “neutral” rating on shares of Frontline in a research report on Wednesday, February 22nd.
Shares of Frontline (NYSE:FRO) traded down 0.45% on Friday, hitting $6.63. 556,107 shares of the stock were exchanged. The company’s 50 day moving average is $6.82 and its 200-day moving average is $7.15. The stock has a market cap of $1.13 billion, a PE ratio of 8.90 and a beta of 2.36. Frontline has a 52-week low of $6.61 and a 52-week high of $10.41.
Frontline (NYSE:FRO) last issued its earnings results on Tuesday, February 28th. The shipping company reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.14. Frontline had a return on equity of 13.92% and a net margin of 21.54%. The firm had revenue of $128.15 million for the quarter, compared to analyst estimates of $100.70 million. Analysts predict that Frontline will post $0.95 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 23rd. Stockholders of record on Monday, March 13th were paid a $0.15 dividend. This is a boost from Frontline’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Thursday, March 9th. This represents a $0.60 annualized dividend and a dividend yield of 9.05%.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Frontline during the fourth quarter valued at about $1,431,000. Boothbay Fund Management LLC boosted its position in Frontline by 36.5% in the fourth quarter. Boothbay Fund Management LLC now owns 18,674 shares of the shipping company’s stock valued at $133,000 after buying an additional 4,990 shares during the last quarter. Guggenheim Capital LLC boosted its position in Frontline by 60.2% in the fourth quarter. Guggenheim Capital LLC now owns 191,525 shares of the shipping company’s stock valued at $1,362,000 after buying an additional 71,997 shares during the last quarter. Evermore Global Advisors LLC acquired a new position in Frontline during the fourth quarter valued at about $10,097,000. Finally, State Street Corp boosted its position in Frontline by 7.4% in the fourth quarter. State Street Corp now owns 990,048 shares of the shipping company’s stock valued at $7,041,000 after buying an additional 68,224 shares during the last quarter. 8.80% of the stock is owned by institutional investors.
Frontline Company Profile
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