Frontline (NYSE:FRO) Trading Up 8.9%

Frontline Ltd (NYSE:FRO) was up 8.9% during mid-day trading on Friday . The stock traded as high as $7.04 and last traded at $7.01, approximately 650,855 shares were traded during trading. An increase of 3% from the average daily volume of 630,253 shares. The stock had previously closed at $6.44.

Several research analysts recently issued reports on FRO shares. Zacks Investment Research raised shares of Frontline from a “hold” rating to a “strong-buy” rating and set a $9.00 price target for the company in a report on Wednesday, July 24th. Jefferies Financial Group set a $8.00 target price on shares of Frontline and gave the company a “hold” rating in a report on Friday, July 5th. TheStreet raised shares of Frontline from a “d+” rating to a “c-” rating in a report on Monday, May 20th. Morgan Stanley set a $8.00 target price on shares of Frontline and gave the company a “hold” rating in a report on Friday, May 17th. Finally, ValuEngine cut shares of Frontline from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $7.47.

The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $1.19 billion, a PE ratio of -50.07, a PEG ratio of 3.59 and a beta of 1.02. The stock’s fifty day simple moving average is $7.69 and its 200-day simple moving average is $7.32.

Frontline (NYSE:FRO) last released its quarterly earnings results on Thursday, May 16th. The shipping company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.24 by $0.03. The business had revenue of $140.76 million for the quarter, compared to analyst estimates of $148.24 million. Frontline had a net margin of 5.52% and a return on equity of 3.08%. During the same period in the prior year, the business earned ($0.08) earnings per share. Analysts expect that Frontline Ltd will post 0.4 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can grew its position in shares of Frontline by 24.7% in the second quarter. Bank of Montreal Can now owns 10,048 shares of the shipping company’s stock valued at $80,000 after purchasing an additional 1,993 shares during the last quarter. Virtu Financial LLC boosted its position in Frontline by 16.4% during the first quarter. Virtu Financial LLC now owns 17,047 shares of the shipping company’s stock worth $110,000 after acquiring an additional 2,403 shares during the last quarter. AQR Capital Management LLC boosted its position in Frontline by 8.1% during the second quarter. AQR Capital Management LLC now owns 33,246 shares of the shipping company’s stock worth $266,000 after acquiring an additional 2,500 shares during the last quarter. Swiss National Bank boosted its position in Frontline by 2.1% during the second quarter. Swiss National Bank now owns 142,182 shares of the shipping company’s stock worth $1,153,000 after acquiring an additional 2,920 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Frontline by 1.6% during the fourth quarter. Bank of New York Mellon Corp now owns 262,884 shares of the shipping company’s stock worth $1,454,000 after acquiring an additional 4,172 shares during the last quarter. Institutional investors and hedge funds own 18.80% of the company’s stock.

Frontline Company Profile (NYSE:FRO)

Frontline Ltd., a shipping company, engages in the seaborne transportation of crude oil and oil products worldwide. It owns and operates oil and product tankers. As of December 31, 2018, the company's fleet consisted of 61 vessels, which included very large crude carrier, Suezmax, and LR2/Aframax tankers with an aggregate capacity of approximately 11.6 million deadweight ton.

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