Frontline (FRO) Stock Price Up 7.1%

Shares of Frontline Ltd (NYSE:FRO) rose 7.1% during mid-day trading on Wednesday . The company traded as high as $8.48 and last traded at $9.07. Approximately 44,059 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 362,245 shares. The stock had previously closed at $8.47.

FRO has been the subject of a number of analyst reports. DNB Markets upgraded Frontline from a “hold” rating to a “buy” rating in a research report on Tuesday, February 12th. Morgan Stanley restated a “hold” rating on shares of Frontline in a research report on Friday, February 15th. Finally, Zacks Investment Research downgraded Frontline from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 26th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $6.80.

The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of -66.14, a price-to-earnings-growth ratio of 4.96 and a beta of 1.13. The company has a quick ratio of 1.12, a current ratio of 1.44 and a debt-to-equity ratio of 1.46.

Frontline (NYSE:FRO) last released its earnings results on Thursday, May 16th. The shipping company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. Frontline had a negative return on equity of 2.04% and a negative net margin of 1.20%. The business had revenue of $140.76 million during the quarter, compared to the consensus estimate of $148.24 million. During the same period last year, the company earned ($0.08) earnings per share. Equities analysts expect that Frontline Ltd will post 0.36 EPS for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the company. Virtu Financial LLC lifted its position in shares of Frontline by 16.4% during the first quarter. Virtu Financial LLC now owns 17,047 shares of the shipping company’s stock worth $110,000 after purchasing an additional 2,403 shares during the last quarter. Federated Investors Inc. PA increased its stake in shares of Frontline by 503.2% during the first quarter. Federated Investors Inc. PA now owns 4,771 shares of the shipping company’s stock valued at $31,000 after buying an additional 3,980 shares during the period. Swiss National Bank increased its stake in shares of Frontline by 3.1% during the first quarter. Swiss National Bank now owns 139,262 shares of the shipping company’s stock valued at $890,000 after buying an additional 4,143 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Frontline by 1.6% during the fourth quarter. Bank of New York Mellon Corp now owns 262,884 shares of the shipping company’s stock valued at $1,454,000 after buying an additional 4,172 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Frontline by 4.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 154,121 shares of the shipping company’s stock valued at $996,000 after buying an additional 6,698 shares during the period. Institutional investors and hedge funds own 18.72% of the company’s stock.

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Frontline Company Profile (NYSE:FRO)

Frontline Ltd., a shipping company, engages in the seaborne transportation of crude oil and oil products worldwide. It owns and operates oil and product tankers. As of December 31, 2018, the company's fleet consisted of 61 vessels, which included very large crude carrier, Suezmax, and LR2/Aframax tankers with an aggregate capacity of approximately 11.6 million deadweight ton.

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