Brokerages Set Frontline Ltd. (NYSE:FRO) PT at $7.28


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Frontline Ltd. (NYSE:FRO) has received an average rating of “Hold” from the ten analysts that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $7.28.

Several research analysts have recently issued reports on the stock. HC Wainwright assumed coverage on shares of Frontline in a research note on Monday, March 29th. They issued a “neutral” rating and a $8.00 target price on the stock. Zacks Investment Research raised shares of Frontline from a “sell” rating to a “hold” rating in a report on Wednesday, March 31st. Jefferies Financial Group reissued a “hold” rating and set a $8.00 price objective on shares of Frontline in a report on Monday, March 1st. Finally, Kepler Capital Markets reissued a “buy” rating on shares of Frontline in a report on Sunday, February 21st.

Shares of FRO opened at $7.66 on Monday. The firm’s 50-day moving average price is $7.40 and its 200-day moving average price is $6.66. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 2.85 and a beta of 0.47. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.23. Frontline has a 1-year low of $5.28 and a 1-year high of $11.95.

Frontline (NYSE:FRO) last announced its earnings results on Thursday, February 18th. The shipping company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). Frontline had a net margin of 38.35% and a return on equity of 34.28%. The company had revenue of $100.63 million for the quarter, compared to the consensus estimate of $105.33 million. During the same period in the previous year, the firm posted $0.54 EPS. On average, research analysts forecast that Frontline will post 2.1 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. tru Independence LLC bought a new position in Frontline during the fourth quarter valued at $18,660,000. Advisory Services Network LLC increased its stake in Frontline by 2,793.8% in the 4th quarter. Advisory Services Network LLC now owns 10,678 shares of the shipping company’s stock worth $66,000 after buying an additional 10,309 shares during the period. Sowell Financial Services LLC increased its stake in Frontline by 35.8% in the 4th quarter. Sowell Financial Services LLC now owns 17,062 shares of the shipping company’s stock worth $106,000 after buying an additional 4,500 shares during the period. Skandinaviska Enskilda Banken AB publ increased its stake in Frontline by 196.2% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 18,384 shares of the shipping company’s stock worth $114,000 after buying an additional 12,178 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Frontline in the 4th quarter worth about $148,000. Institutional investors and hedge funds own 21.85% of the company’s stock.

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, 2020, the company operated a fleet of 68 vessels. It is also involved in the charter, purchase, and sale of vessels. Frontline Ltd.

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Analyst Recommendations for Frontline (NYSE:FRO)

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