Shares of Frontline Ltd (NYSE:FRO) have been given an average rating of “Hold” by the nine brokerages that are currently covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $6.17.
A number of research analysts have commented on FRO shares. DNB Markets upgraded Frontline from a “hold” rating to a “buy” rating in a research note on Tuesday, February 12th. Wells Fargo & Co cut Frontline from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $7.00 to $5.50 in a research note on Thursday, January 10th. Morgan Stanley restated a “hold” rating on shares of Frontline in a research note on Friday, February 15th. Finally, Zacks Investment Research cut Frontline from a “buy” rating to a “hold” rating in a research note on Friday, April 12th.
Several large investors have recently added to or reduced their stakes in FRO. Wells Fargo & Company MN lifted its stake in shares of Frontline by 53.8% in the third quarter. Wells Fargo & Company MN now owns 110,996 shares of the shipping company’s stock worth $645,000 after acquiring an additional 38,804 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Frontline by 1.0% in the third quarter. BlackRock Inc. now owns 3,633,341 shares of the shipping company’s stock worth $21,108,000 after acquiring an additional 36,489 shares in the last quarter. Man Group plc acquired a new position in shares of Frontline in the third quarter worth about $385,000. Macquarie Group Ltd. acquired a new position in shares of Frontline in the third quarter worth about $114,000. Finally, Teachers Advisors LLC lifted its stake in shares of Frontline by 10.4% in the third quarter. Teachers Advisors LLC now owns 156,779 shares of the shipping company’s stock worth $911,000 after acquiring an additional 14,815 shares in the last quarter. Institutional investors and hedge funds own 18.94% of the company’s stock.
Frontline (NYSE:FRO) last issued its quarterly earnings data on Thursday, February 28th. The shipping company reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.02). The company had revenue of $122.34 million for the quarter, compared to analyst estimates of $124.00 million. Frontline had a negative return on equity of 2.04% and a negative net margin of 1.20%. As a group, equities research analysts predict that Frontline will post 0.36 earnings per share for the current fiscal year.
Frontline Company Profile
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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