Frontline Ltd. (FRO) Trading Up 3.9%
Frontline Ltd. (NYSE:FRO) was up 3.9% during mid-day trading on Tuesday . The company traded as high as $8.77 and last traded at $8.77, with a volume of 1,139,796 shares. The stock had previously closed at $8.44.
A number of equities research analysts have issued reports on FRO shares. Seaport Global Securities started coverage on shares of Frontline in a report on Wednesday, May 4th. They set a “neutral” rating and a $9.00 target price on the stock. Zacks Investment Research raised shares of Frontline from a “hold” rating to a “buy” rating and set a $8.75 price objective on the stock in a research report on Monday, May 16th. Morgan Stanley reissued a “hold” rating on shares of Frontline in a research report on Wednesday, June 1st. Credit Suisse Group AG reissued a “hold” rating on shares of Frontline in a research report on Tuesday, May 31st. Finally, Clarkson Capital reissued a “buy” rating on shares of Frontline in a research report on Friday, June 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. Frontline has an average rating of “Hold” and an average price target of $13.13.
The company has a market cap of $1.30 billion and a PE ratio of 4.85. The company’s 50-day moving average price is $8.00 and its 200-day moving average price is $8.30.
Frontline (NYSE:FRO) last released its earnings results on Tuesday, May 31st. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.19. On average, analysts predict that Frontline Ltd. will post $1.29 earnings per share for the current fiscal 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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