Frontline Ltd. (FRO) Stock Rating Reaffirmed by Wells Fargo & Co.
Frontline Ltd. (NYSE:FRO)‘s stock had its “hold” rating reaffirmed by stock analysts at Wells Fargo & Co. in a research report issued to clients and investors on Tuesday.
Several other equities research analysts have also commented on the company. Zacks Investment Research lowered Frontline from a “hold” rating to a “strong sell” rating in a research note on Monday, August 22nd. Morgan Stanley reiterated an “equal weight” rating and set a $7.00 price objective (down from $10.00) on shares of Frontline in a research note on Friday, August 26th. Clarkson Capital reiterated a “buy” rating on shares of Frontline in a research note on Friday, June 17th. Finally, Credit Suisse Group AG reiterated a “hold” rating on shares of Frontline in a research note on Tuesday, May 31st. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $11.90.
Frontline (NYSE:FRO) opened at 7.25 on Tuesday. Frontline has a 12-month low of $6.80 and a 12-month high of $17.05. The firm’s 50-day moving average price is $7.67 and its 200 day moving average price is $8.04. The stock has a market cap of $1.13 billion, a PE ratio of 4.75 and a beta of 2.53.
Frontline (NYSE:FRO) last posted its quarterly earnings data on Wednesday, August 31st. The company reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by $0.18. Frontline had a return on equity of 20.67% and a net margin of 31.41%. Analysts anticipate that Frontline will post $1.13 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 19th. Stockholders of record on Monday, September 12th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, September 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 11.03%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Mckinley Capital Management LLC Delaware acquired a new position in shares of Frontline during the first quarter valued at $1,231,000. A.R.T. Advisors LLC acquired a new position in shares of Frontline during the first quarter valued at $872,000. James Investment Research Inc. acquired a new position in shares of Frontline during the second quarter valued at $5,225,000. Palo Capital Inc. raised its position in shares of Frontline by 112.6% in the second quarter. Palo Capital Inc. now owns 51,358 shares of the company’s stock valued at $404,000 after buying an additional 27,197 shares during the last quarter. Finally, Strs Ohio raised its position in shares of Frontline by 38.6% in the second quarter. Strs Ohio now owns 21,600 shares of the company’s stock valued at $169,000 after buying an additional 6,020 shares during the last quarter. Institutional investors own 9.12% of the company’s stock.
Frontline Company Profile
Frontline Ltd. is a shipping company. The Company is engaged in the seaborne transportation of crude oil and oil products. The Company operates through the tankers segment. The tankers segment includes crude oil tankers and product tankers. The Company operates through subsidiaries and partnerships located in Bermuda, India, the Philippines, Liberia, Norway, the United Kingdom and Singapore.
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