Frontline (NYSE:FRO) had its target price lifted by Deutsche Bank from $6.00 to $7.00 in a research note published on Tuesday morning. Deutsche Bank currently has a hold rating on the shipping company’s stock.
A number of other analysts also recently issued reports on FRO. ValuEngine raised Frontline from a sell rating to a hold rating in a research report on Thursday, August 30th. BTIG Research initiated coverage on Frontline in a research report on Thursday, September 27th. They set a neutral rating for the company. Jefferies Financial Group assumed coverage on Frontline in a research report on Monday, October 1st. They set a hold rating and a $6.00 price objective for the company. Danske raised Frontline from a sell rating to a buy rating in a research report on Thursday, November 15th. Finally, Morgan Stanley lifted their target price on Frontline from $5.00 to $6.00 and gave the company a hold rating in a research report on Monday, November 19th. Six research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Frontline currently has an average rating of Buy and a consensus target price of $6.44.
Shares of NYSE:FRO opened at $6.91 on Tuesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.32 and a quick ratio of 1.32. Frontline has a 12-month low of $3.79 and a 12-month high of $8.33.
Frontline (NYSE:FRO) last issued its quarterly earnings data on Friday, November 16th. The shipping company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.08. The firm had revenue of $89.21 million during the quarter, compared to the consensus estimate of $79.90 million. Frontline had a negative return on equity of 3.87% and a negative net margin of 40.17%. During the same period last year, the company earned ($0.08) EPS. On average, equities research analysts expect that Frontline will post -0.24 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FRO. Marshall Wace LLP grew its position in Frontline by 589.8% in the 2nd quarter. Marshall Wace LLP now owns 774,406 shares of the shipping company’s stock valued at $4,510,000 after acquiring an additional 662,138 shares in the last quarter. Renaissance Technologies LLC grew its position in Frontline by 34.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,559,601 shares of the shipping company’s stock valued at $9,101,000 after acquiring an additional 397,101 shares in the last quarter. GAM Holding AG grew its position in Frontline by 22.5% in the 2nd quarter. GAM Holding AG now owns 1,322,550 shares of the shipping company’s stock valued at $7,724,000 after acquiring an additional 242,788 shares in the last quarter. Bienville Capital Management LLC acquired a new position in Frontline in the 2nd quarter valued at about $1,130,000. Finally, Evermore Global Advisors LLC grew its position in Frontline by 3.3% in the 3rd quarter. Evermore Global Advisors LLC now owns 5,687,632 shares of the shipping company’s stock valued at $33,045,000 after acquiring an additional 181,826 shares in the last quarter. 16.25% of the stock is owned by institutional investors.
Frontline Ltd., a shipping company, engages in the seaborne transportation of crude oil and oil products worldwide. As of December 31, 2017, the company's fleet consisted of 61 vessels, including VLCC, Suezmax, and LR2/Aframax tankers with an aggregate capacity of approximately 11.6 million deadweight ton.
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