Frontline Ltd. (NYSE:FRO) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Saturday.
FRO has been the subject of a number of other reports. Zacks Investment Research cut Frontline from a “hold” rating to a “sell” rating in a report on Friday, May 5th. ValuEngine cut Frontline from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Credit Suisse Group lowered their price target on Frontline from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Wednesday, May 31st. Evercore ISI cut Frontline from an “in-line” rating to an “underperform” rating and lowered their price target for the stock from $6.00 to $4.00 in a report on Friday, July 21st. Finally, Seaport Global Securities upgraded Frontline from a “neutral” rating to a “buy” rating and set a $8.00 price target for the company in a report on Wednesday, May 31st. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $6.25.
Shares of Frontline (FRO) traded up 4.66% during midday trading on Friday, reaching $5.62. 349,176 shares of the company’s stock traded hands. Frontline has a one year low of $5.00 and a one year high of $8.22. The firm has a market capitalization of $954.33 million, a PE ratio of 14.67 and a beta of 1.97. The stock’s 50-day moving average price is $5.65 and its 200 day moving average price is $6.21.
Frontline (NYSE:FRO) last issued its earnings results on Tuesday, May 30th. The shipping company reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.04. The company had revenue of $121.94 million during the quarter, compared to analysts’ expectations of $103.70 million. Frontline had a return on equity of 8.76% and a net margin of 9.25%. On average, equities research analysts expect that Frontline will post $0.05 earnings per share for the current fiscal year.
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Several institutional investors have recently added to or reduced their stakes in FRO. Mackenzie Financial Corp acquired a new position in Frontline during the first quarter worth $101,000. Legal & General Group Plc raised its position in Frontline by 3.8% in the first quarter. Legal & General Group Plc now owns 16,056 shares of the shipping company’s stock valued at $108,000 after buying an additional 581 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Frontline by 426.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,564 shares of the shipping company’s stock valued at $112,000 after buying an additional 13,420 shares during the last quarter. Aperio Group LLC purchased a new position in Frontline during the second quarter valued at about $124,000. Finally, KCG Holdings Inc. raised its position in Frontline by 40.3% in the first quarter. KCG Holdings Inc. now owns 25,073 shares of the shipping company’s stock valued at $169,000 after buying an additional 7,205 shares during the last quarter. Institutional investors and hedge funds own 11.57% of the company’s stock.
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