Frontline Ltd. (FRO) Shares Down 3.2%
Frontline Ltd. (NYSE:FRO) shares traded down 3.2% during trading on Wednesday . The stock traded as low as $8.47 and last traded at $8.48, with a volume of 915,285 shares traded. The stock had previously closed at $8.76.
Several research analysts have recently commented on the company. Credit Suisse Group AG reissued a “hold” rating on shares of Frontline in a report on Tuesday, May 31st. Morgan Stanley reissued a “hold” rating on shares of Frontline in a report on Wednesday, June 1st. Zacks Investment Research raised Frontline from a “hold” rating to a “buy” rating and set a $8.75 price objective on the stock in a report on Monday, May 16th. Clarkson Capital reaffirmed a “buy” rating on shares of Frontline in a report on Friday, June 17th. Finally, Seaport Global Securities assumed coverage on Frontline in a report on Wednesday, May 4th. They set a “neutral” rating and a $9.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $13.13.
The firm’s 50-day moving average price is $7.98 and its 200-day moving average price is $8.30. The company has a market cap of $1.30 billion and a P/E ratio of 4.85.
Frontline (NYSE:FRO) last issued its quarterly earnings results on Tuesday, May 31st. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.19. On average, analysts forecast that Frontline Ltd. will post $1.29 earnings per share for the current year.
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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