Frontline Ltd. (FRO) Stock Price Down 3.2%
Frontline Ltd. (NYSE:FRO) was 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. The stock had previously closed at $8.76.
Several research analysts have recently issued reports on FRO shares. Zacks Investment Research downgraded shares of Frontline from a “hold” rating to a “strong sell” rating in a research note on Monday. Seaport Global Securities started coverage on shares of Frontline in a research note on Wednesday, May 4th. They issued a “neutral” rating and a $9.00 target price on the stock. Clarkson Capital reiterated a “buy” rating on shares of Frontline in a research note on Friday, June 17th. Morgan Stanley reiterated a “hold” rating on shares of Frontline in a research note on Wednesday, June 1st. Finally, Credit Suisse Group AG reiterated a “hold” rating on shares of Frontline in a research note on Tuesday, May 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $13.13.
The firm’s 50-day moving average is $8.02 and its 200-day moving average is $8.30. The company has a market capitalization of $1.28 billion and a PE ratio of 4.79.
Frontline (NYSE:FRO) last posted its quarterly earnings results on Tuesday, May 31st. The company reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.19. Equities analysts anticipate that Frontline Ltd. will post $1.29 EPS 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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