Frontline Ltd. (FRO) to Release Earnings on Tuesday
Frontline Ltd. (NYSE:FRO) will release its Q316 earnings data on Tuesday, November 29th. Analysts expect Frontline to post earnings of $0.05 per share and revenue of $119.38 million for the quarter.
Frontline Ltd. (NYSE:FRO) opened at 7.57 on Monday. The firm has a market cap of $1.18 billion, a P/E ratio of 4.96 and a beta of 2.55. Frontline Ltd. has a 12 month low of $6.80 and a 12 month high of $16.40. The firm’s 50-day moving average price is $7.49 and its 200-day moving average price is $7.82.
A number of analysts have weighed in on FRO shares. Zacks Investment Research upgraded Frontline from a “sell” rating to a “hold” rating in a report on Thursday, October 27th. Wells Fargo & Co. reissued a “hold” rating on shares of Frontline in a research report on Tuesday, September 27th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $7.00 price objective (down previously from $10.00) on shares of Frontline in a research report on Friday, August 26th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Frontline presently has an average rating of “Hold” and a consensus price target of $9.88.
A number of institutional investors have recently made changes to their positions in the stock. Prudential Financial Inc. acquired a new position in shares of Frontline during the second quarter valued at $298,000. BlackRock Advisors LLC boosted its position in shares of 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. BlackRock Investment Management LLC boosted its position in shares of Frontline by 43.5% in the second quarter. BlackRock Investment Management LLC now owns 266,747 shares of the company’s stock valued at $2,099,000 after buying an additional 80,860 shares during the last quarter. BlackRock Inc. boosted its position in shares of Frontline by 551.1% in the second quarter. BlackRock Inc. now owns 15,015 shares of the company’s stock valued at $119,000 after buying an additional 12,709 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its position in shares of Frontline by 22.9% in the second quarter. BlackRock Fund Advisors now owns 1,503,810 shares of the company’s stock valued at $11,835,000 after buying an additional 280,281 shares during the last quarter. 9.18% of the stock is currently owned by institutional investors and hedge funds.
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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