Frontline Ltd (FRO) Receives $6.63 Consensus Target Price from Brokerages

Frontline Ltd (NYSE:FRO) has received an average recommendation of “Hold” from the ten research firms that are currently covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $6.63.

A number of analysts recently issued reports on FRO shares. DNB Markets upgraded shares of Frontline from a “hold” rating to a “buy” rating in a report on Tuesday, February 12th. Morgan Stanley restated a “hold” rating on shares of Frontline in a report on Friday, February 15th. Zacks Investment Research downgraded shares of Frontline from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Finally, TheStreet upgraded shares of Frontline from a “d+” rating to a “c-” rating in a report on Monday, May 20th.

Large investors have recently modified their holdings of the business. BlackRock Inc. boosted its position in shares of Frontline by 2.9% in the fourth quarter. BlackRock Inc. now owns 3,739,119 shares of the shipping company’s stock valued at $20,678,000 after acquiring an additional 105,778 shares during the period. Odey Asset Management Group Ltd lifted its position in Frontline by 2,276.9% during the fourth quarter. Odey Asset Management Group Ltd now owns 3,422,053 shares of the shipping company’s stock valued at $18,924,000 after purchasing an additional 3,278,079 shares during the last quarter. Deutsche Bank AG lifted its position in Frontline by 130.7% during the fourth quarter. Deutsche Bank AG now owns 740,715 shares of the shipping company’s stock valued at $4,094,000 after purchasing an additional 419,702 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Frontline by 213.6% during the first quarter. Goldman Sachs Group Inc. now owns 481,311 shares of the shipping company’s stock valued at $3,110,000 after purchasing an additional 327,821 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its position in Frontline by 7.3% during the first quarter. Parametric Portfolio Associates LLC now owns 408,827 shares of the shipping company’s stock valued at $2,641,000 after purchasing an additional 27,805 shares during the last quarter. Hedge funds and other institutional investors own 18.83% of the company’s stock.

Shares of FRO stock traded down $0.27 on Thursday, hitting $7.77. The stock had a trading volume of 499,895 shares, compared to its average volume of 500,693. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $1.33 billion, a PE ratio of -55.29, a P/E/G ratio of 3.75 and a beta of 1.17. Frontline has a 1 year low of $4.46 and a 1 year high of $9.54.

Frontline (NYSE:FRO) last issued its 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. Frontline had a net margin of 5.52% and a return on equity of 3.08%. The company had revenue of $140.76 million during the quarter, compared to analysts’ expectations of $148.24 million. During the same period in the previous year, the company earned ($0.08) EPS. Research analysts predict that Frontline will post 0.42 EPS for the current fiscal year.

About Frontline

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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Analyst Recommendations for Frontline (NYSE:FRO)

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