Brokers Set Expectations for Frontline Ltd.’s Q3 2016 Earnings (FRO)
Frontline Ltd. (NYSE:FRO) – Equities research analysts at Seaport Global Securities reduced their Q3 2016 EPS estimates for shares of Frontline in a research note issued to investors on Tuesday. Seaport Global Securities analyst M. Fyhr now expects that the firm will post earnings of ($0.03) per share for the quarter, down from their previous estimate of $0.02. Seaport Global Securities also issued estimates for Frontline’s Q4 2016 earnings at $0.01 EPS and FY2017 earnings at $0.72 EPS.
Several other equities analysts also recently weighed in on the company. Zacks Investment Research upgraded Frontline from a “hold” rating to a “buy” rating and set a $8.50 target price on the stock in a research report on Wednesday, July 6th. Clarkson Capital reaffirmed a “buy” rating on shares of Frontline in a research note on Friday, June 17th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Frontline in a research note on Tuesday, September 27th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $7.00 target price (down from $10.00) on shares of Frontline in a report on Friday, August 26th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Frontline presently has a consensus rating of “Hold” and a consensus price target of $11.90.
Frontline (NYSE:FRO) traded down 2.037% during trading on Thursday, hitting $7.455. The stock had a trading volume of 563,384 shares. The company has a market cap of $1.17 billion, a PE ratio of 4.882 and a beta of 2.30. Frontline has a 12 month low of $6.80 and a 12 month high of $17.05. The company’s 50 day moving average is $7.41 and its 200-day moving average is $7.95.
Frontline (NYSE:FRO) last released its quarterly earnings data on Wednesday, August 31st. The company reported $0.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.27 by $0.18. Frontline had a return on equity of 20.67% and a net margin of 31.41%.
The business also recently announced a quarterly dividend, which was paid on Monday, September 19th. Investors of record on Monday, September 12th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 10.51%. The ex-dividend date was Thursday, September 8th.
A number of large investors have recently bought and sold shares of FRO. James Investment Research Inc. acquired a new position in shares of Frontline during the second quarter worth $5,225,000. QVT Financial LP purchased a new stake in Frontline during the second quarter worth approximately $3,202,000. Marshall Wace LLP increased its stake in Frontline by 608.5% in the second quarter. Marshall Wace LLP now owns 395,721 shares of the company’s stock worth $3,114,000 after buying an additional 339,868 shares during the last quarter. Ranger International Management LP purchased a new stake in Frontline during the second quarter worth approximately $2,505,000. Finally, BlackRock Fund Advisors increased its stake in Frontline by 22.9% in the second quarter. BlackRock Fund Advisors now owns 1,503,810 shares of the company’s stock worth $11,835,000 after buying an additional 280,281 shares during the last quarter. 9.12% of the stock is currently owned by hedge funds and other institutional investors.
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.
Receive News & Stock Ratings for Frontline Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Frontline Ltd. and related stocks with our FREE daily email newsletter.