Frontline Ltd. (FRO) Raised to Sell at BidaskClub
BidaskClub upgraded shares of Frontline Ltd. (NYSE:FRO) from a strong sell rating to a sell rating in a research report sent to investors on Saturday.
Several other research firms also recently commented on FRO. Zacks Investment Research upgraded Frontline from a sell rating to a hold rating in a report on Thursday, May 11th. Evercore ISI downgraded Frontline from an in-line rating to an underperform rating and decreased their price objective for the stock from $6.00 to $4.00 in a report on Friday, July 21st. ValuEngine downgraded Frontline from a buy rating to a hold rating in a report on Friday, June 2nd. Credit Suisse Group decreased their price objective on Frontline from $8.00 to $6.00 and set a neutral rating on the stock in a report on Wednesday, May 31st. Finally, Seaport Global Securities upgraded Frontline from a neutral rating to a buy rating and set a $8.00 price objective on the stock in a report on Wednesday, May 31st. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $6.00.
Shares of Frontline (NYSE FRO) opened at 5.64 on Friday. The stock has a 50 day moving average price of $5.65 and a 200-day moving average price of $6.21. The firm has a market capitalization of $957.72 million, a price-to-earnings ratio of 14.73 and a beta of 1.97. Frontline has a 52 week low of $5.00 and a 52 week high of $8.39.
Frontline (NYSE:FRO) last released its quarterly earnings data on Tuesday, May 30th. The shipping company reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.04. The firm had revenue of $121.94 million for the quarter, compared to the consensus estimate of $103.70 million. Frontline had a return on equity of 8.76% and a net margin of 9.25%. On average, equities research analysts forecast that Frontline will post $0.05 earnings per share for the current year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its position in Frontline by 3.8% in the first quarter. Legal & General Group Plc now owns 16,056 shares of the shipping company’s stock valued at $108,000 after buying an additional 581 shares in the last quarter. Teachers Advisors LLC increased its position in shares of Frontline by 6.8% in the first quarter. Teachers Advisors LLC now owns 114,881 shares of the shipping company’s stock worth $774,000 after buying an additional 7,266 shares in the last quarter. American International Group Inc. increased its position in shares of Frontline by 7.6% in the first quarter. American International Group Inc. now owns 40,205 shares of the shipping company’s stock worth $271,000 after buying an additional 2,841 shares in the last quarter. Cipher Capital LP increased its position in shares of Frontline by 5.6% in the first quarter. Cipher Capital LP now owns 400,829 shares of the shipping company’s stock worth $2,702,000 after buying an additional 21,282 shares in the last quarter. Finally, Lingohr & Partner Asset Management GmbH increased its position in shares of Frontline by 38.1% in the first quarter. Lingohr & Partner Asset Management GmbH now owns 1,666,000 shares of the shipping company’s stock worth $11,229,000 after buying an additional 460,019 shares in the last quarter. Hedge funds and other institutional investors own 12.35% of the company’s stock.
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