Analysts’ Recent Ratings Changes for Frontline (FRO)

Frontline (NYSE: FRO) recently received a number of ratings updates from brokerages and research firms:

  • 1/8/2019 – Frontline was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $6.75 price target on the stock. According to Zacks, “FRONTLINE LTD’s business strategy is primarily based upon the following principles: emphasising operational safety and quality maintenance for all of its vessels; complying with all current and proposed environmental regulations; outsourcing technical operations and crewing; achieving low operational costs of vessels; achieving high utilisation of its vessels; competitive financing arrangements; and develop relationship to main charterers. “
  • 1/4/2019 – Frontline was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “FRONTLINE LTD’s business strategy is primarily based upon the following principles: emphasising operational safety and quality maintenance for all of its vessels; complying with all current and proposed environmental regulations; outsourcing technical operations and crewing; achieving low operational costs of vessels; achieving high utilisation of its vessels; competitive financing arrangements; and develop relationship to main charterers. “
  • 1/2/2019 – Frontline was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 12/21/2018 – Frontline was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 12/9/2018 – Frontline was downgraded by analysts at DNB Markets from a “buy” rating to a “hold” rating. They now have a $7.30 price target on the stock.
  • 12/4/2018 – Frontline had its price target raised by analysts at Deutsche Bank AG from $6.00 to $7.00. They now have a “hold” rating on the stock.
  • 11/30/2018 – Frontline was downgraded by analysts at DNB Markets from a “buy” rating to a “hold” rating. They now have a $7.30 price target on the stock.
  • 11/21/2018 – Frontline was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $6.75 price target on the stock. According to Zacks, “FRONTLINE LTD’s business strategy is primarily based upon the following principles: emphasising operational safety and quality maintenance for all of its vessels; complying with all current and proposed environmental regulations; outsourcing technical operations and crewing; achieving low operational costs of vessels; achieving high utilisation of its vessels; competitive financing arrangements; and develop relationship to main charterers. “
  • 11/19/2018 – Frontline had its price target raised by analysts at Morgan Stanley from $5.00 to $6.00. They now have a “hold” rating on the stock.
  • 11/15/2018 – Frontline was upgraded by analysts at Danske from a “sell” rating to a “buy” rating.

NYSE:FRO opened at $6.14 on Wednesday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.32 and a current ratio of 1.32. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -204.67 and a beta of 1.01. Frontline Ltd has a 12-month low of $3.79 and a 12-month high of $8.33.

Frontline (NYSE:FRO) last released its quarterly earnings data on Friday, November 16th. The shipping company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.08. The firm had revenue of $89.21 million for the quarter, compared to analyst estimates of $79.90 million. Frontline had a negative return on equity of 3.87% and a negative net margin of 40.17%. During the same quarter in the prior year, the company earned ($0.08) earnings per share. Equities research analysts predict that Frontline Ltd will post -0.2 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in FRO. Russell Investments Group Ltd. increased its stake in shares of Frontline by 71.5% during the second quarter. Russell Investments Group Ltd. now owns 433,448 shares of the shipping company’s stock worth $2,531,000 after purchasing an additional 180,682 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Frontline by 12.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 142,463 shares of the shipping company’s stock worth $832,000 after purchasing an additional 15,600 shares during the period. GSA Capital Partners LLP bought a new position in shares of Frontline during the second quarter worth approximately $486,000. BlackRock Inc. increased its stake in shares of Frontline by 3.7% during the second quarter. BlackRock Inc. now owns 3,596,852 shares of the shipping company’s stock worth $21,005,000 after purchasing an additional 128,927 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Frontline by 34.2% during the second quarter. Renaissance Technologies LLC now owns 1,559,601 shares of the shipping company’s stock worth $9,101,000 after purchasing an additional 397,101 shares during the period. Institutional investors own 16.21% of the company’s stock.

Frontline Ltd., a shipping company, engages in the seaborne transportation of crude oil and oil products worldwide. As of December 31, 2017, the company's fleet consisted of 61 vessels, including VLCC, Suezmax, and LR2/Aframax tankers with an aggregate capacity of approximately 11.6 million deadweight ton.

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