Frontline Ltd. (FRO) Rating Lowered to Underperform at Evercore ISI
Evercore ISI cut shares of Frontline Ltd. (NYSE:FRO) from an in-line rating to an underperform rating in a report published on Friday morning, MarketBeat.com reports. Evercore ISI currently has $4.00 price target on the shipping company’s stock, down from their prior price target of $6.00.
FRO has been the subject of several other reports. ValuEngine cut shares of Frontline from a buy rating to a hold rating in a research report on Friday, June 2nd. BidaskClub upgraded shares of Frontline from a sell rating to a hold rating in a research report on Wednesday, July 19th. Zacks Investment Research cut shares of Frontline from a hold rating to a sell rating in a research report on Friday, May 5th. Credit Suisse Group decreased their price objective on shares of Frontline from $8.00 to $6.00 and set a neutral rating for the company in a research report on Wednesday, May 31st. Finally, Seaport Global Securities upgraded shares of Frontline from a neutral rating to a buy rating and set a $8.00 price objective for the company in a research report on Wednesday, May 31st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $6.25.
Frontline (NYSE:FRO) opened at 5.81 on Friday. The stock’s 50 day moving average is $5.73 and its 200-day moving average is $6.48. Frontline has a 12 month low of $5.35 and a 12 month high of $8.90. The company has a market capitalization of $986.59 million, a PE ratio of 15.17 and a beta of 1.97.
Frontline (NYSE:FRO) last posted its quarterly earnings data on Tuesday, May 30th. The shipping company reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.04. Frontline had a net margin of 9.25% and a return on equity of 8.76%. The company had revenue of $121.94 million during the quarter, compared to analysts’ expectations of $103.70 million. On average, analysts expect that Frontline will post $0.05 EPS for the current year.
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A number of hedge funds and other institutional investors have recently modified their holdings of FRO. Mackenzie Financial Corp bought a new position in shares of Frontline during the first quarter valued at about $101,000. Legal & General Group Plc raised its position in shares of Frontline by 3.8% in the first quarter. Legal & General Group Plc now owns 16,056 shares of the shipping company’s stock valued at $108,000 after buying an additional 581 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Frontline by 426.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,564 shares of the shipping company’s stock valued at $112,000 after buying an additional 13,420 shares in the last quarter. Aperio Group LLC bought a new position in shares of Frontline during the second quarter valued at about $124,000. Finally, KCG Holdings Inc. raised its position in shares of Frontline by 40.3% in the first quarter. KCG Holdings Inc. now owns 25,073 shares of the shipping company’s stock valued at $169,000 after buying an additional 7,205 shares in the last quarter. 10.90% of the stock is currently owned by institutional investors and hedge funds.
Frontline Company Profile
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