Frontline Ltd. (FRO) Expected to Earn Q1 2017 Earnings of $0.15 Per Share
Frontline Ltd. (NYSE:FRO) – Equities researchers at Seaport Global Securities cut their Q1 2017 earnings estimates for Frontline in a report released on Tuesday. Seaport Global Securities analyst M. Fyhr now expects that the brokerage will post earnings per share of $0.15 for the quarter, down from their previous forecast of $0.22. Seaport Global Securities also issued estimates for Frontline’s Q2 2017 earnings at $0.18 EPS, Q3 2017 earnings at $0.19 EPS and Q4 2017 earnings at $0.20 EPS.
Frontline (NYSE:FRO) last posted its quarterly earnings results on Wednesday, August 31st. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by $0.18. Frontline had a return on equity of 20.67% and a net margin of 31.41%.
FRO has been the topic of a number of other research reports. Wells Fargo & Co. restated a “hold” rating on shares of Frontline in a research report on Tuesday, September 27th. Morgan Stanley restated an “equal weight” rating and set a $7.00 price target (down previously from $10.00) on shares of Frontline in a research report on Friday, August 26th. Zacks Investment Research downgraded Frontline from a “hold” rating to a “strong sell” rating in a research report on Monday, August 22nd. Finally, Clarkson Capital restated a “buy” rating on shares of Frontline in a research report on Friday, June 17th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Frontline currently has a consensus rating of “Hold” and an average target price of $11.90.
Frontline (NYSE:FRO) traded down 1.9750% during trading on Wednesday, hitting $7.4597. The stock had a trading volume of 763,039 shares. The stock has a market capitalization of $1.17 billion, a P/E ratio of 4.8852 and a beta of 2.30. Frontline has a 52 week low of $6.80 and a 52 week high of $17.05. The company has a 50-day moving average of $7.41 and a 200-day moving average of $7.95.
Hedge funds have recently bought and sold shares of the company. Rhumbline Advisers boosted its stake in Frontline by 3.1% in the second quarter. Rhumbline Advisers now owns 71,660 shares of the company’s stock valued at $564,000 after buying an additional 2,133 shares during the last quarter. Strs Ohio boosted its stake in 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. BlackRock Advisors LLC boosted its stake in Frontline by 44.5% in the second quarter. BlackRock Advisors LLC now owns 21,491 shares of the company’s stock valued at $169,000 after buying an additional 6,621 shares during the last quarter. Nationwide Fund Advisors boosted its stake in Frontline by 7.5% in the second quarter. Nationwide Fund Advisors now owns 126,924 shares of the company’s stock valued at $999,000 after buying an additional 8,838 shares during the last quarter. Finally, American International Group Inc. boosted its stake in Frontline by 35.1% in the second quarter. American International Group Inc. now owns 37,404 shares of the company’s stock valued at $294,000 after buying an additional 9,719 shares during the last quarter. 9.12% of the stock is currently owned by institutional investors.
The firm 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. The ex-dividend date of this dividend was Thursday, September 8th. This represents a $0.80 annualized dividend and a dividend yield of 10.51%.
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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