Frontline (NYSE:FRO) Stock Price Down 3.3%

Frontline Ltd. (NYSE:FROGet Rating)’s share price dropped 3.3% on Tuesday . The stock traded as low as $8.21 and last traded at $8.30. Approximately 29,999 shares changed hands during trading, a decline of 99% from the average daily volume of 2,180,322 shares. The stock had previously closed at $8.58.

FRO has been the topic of several recent research reports. HC Wainwright lifted their target price on shares of Frontline from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, April 8th. Jefferies Financial Group initiated coverage on shares of Frontline in a report on Wednesday, April 27th. They set a “hold” rating for the company. Zacks Investment Research downgraded shares of Frontline from a “buy” rating to a “hold” rating in a report on Wednesday, May 4th. Finally, StockNews.com initiated coverage on shares of Frontline in a report on Thursday, March 31st. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $9.24.

The stock has a market capitalization of $1.69 billion, a P/E ratio of -171.60 and a beta of 0.10. The firm’s fifty day moving average is $8.66 and its 200-day moving average is $7.94. The company has a current ratio of 1.14, a quick ratio of 0.86 and a debt-to-equity ratio of 1.31.

Frontline (NYSE:FROGet Rating) last announced its earnings results on Thursday, February 17th. The shipping company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). Frontline had a negative return on equity of 3.40% and a negative net margin of 1.49%. The company had revenue of $213.50 million during the quarter, compared to the consensus estimate of $108.70 million. During the same period in the prior year, the firm posted ($0.10) earnings per share. The company’s revenue was up 112.2% on a year-over-year basis. Equities research analysts expect that Frontline Ltd. will post 0.72 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Beacon Capital Management Inc. bought a new position in shares of Frontline in the first quarter worth about $25,000. Counterpoint Mutual Funds LLC acquired a new stake in shares of Frontline during the 4th quarter worth approximately $27,000. Cetera Investment Advisers acquired a new stake in shares of Frontline during the 3rd quarter worth approximately $96,000. Qube Research & Technologies Ltd acquired a new stake in shares of Frontline during the 1st quarter worth approximately $93,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Frontline during the 4th quarter worth approximately $80,000. 20.33% of the stock is owned by institutional investors.

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, 2021, the company operated a fleet of 70 vessels. It is also involved in the charter, purchase, and sale of vessels. The company was founded in 1985 and is based in Hamilton, Bermuda.

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