Frontline (NYSE:FRO) Trading Up 7.6%

Frontline Ltd. (NYSE:FRO) was up 7.6% during mid-day trading on Monday . The company traded as high as $9.09 and last traded at $9.09. Approximately 34,079 shares changed hands during mid-day trading, a decline of 98% from the average daily volume of 1,740,040 shares. The stock had previously closed at $8.45.

A number of brokerages recently weighed in on FRO. Zacks Investment Research downgraded shares of Frontline from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 21st. Danske upgraded shares of Frontline from a “hold” rating to a “buy” rating and set a $9.70 target price on the stock in a report on Wednesday, June 30th. Finally, Evercore ISI restated a “buy” rating on shares of Frontline in a report on Sunday, August 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $8.18.

The company has a debt-to-equity ratio of 1.20, a current ratio of 0.78 and a quick ratio of 0.78. The stock’s 50-day simple moving average is $7.71 and its 200 day simple moving average is $7.93. The stock has a market capitalization of $1.78 billion, a P/E ratio of 35.00 and a beta of 0.33.

Frontline (NYSE:FRO) last released its quarterly earnings data on Wednesday, August 25th. The shipping company reported ($0.12) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.02). Frontline had a return on equity of 1.34% and a net margin of 6.38%. The company had revenue of $170.00 million for the quarter, compared to the consensus estimate of $94.98 million. During the same period last year, the firm earned $1.04 earnings per share. As a group, analysts expect that Frontline Ltd. will post -0.02 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in FRO. Advisory Services Network LLC bought a new stake in shares of Frontline in the second quarter valued at about $71,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Frontline in the first quarter valued at about $80,000. Principal Financial Group Inc. bought a new stake in shares of Frontline in the first quarter valued at about $87,000. Fox Run Management L.L.C. bought a new stake in shares of Frontline in the first quarter valued at about $92,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Frontline in the first quarter valued at about $108,000. 21.56% of the stock is owned by institutional investors.

Frontline Company Profile (NYSE:FRO)

Frontline Ltd. is an international shipping company, which engages in the ownership and operation of oil and product tankers. It also offers the seaborne transportation of crude oil and oil products. The company was founded in 1985 and is headquartered in Hamilton, Bermuda.

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