According to Zacks, “FRONTLINE LTD’s business strategy is primarily based upon the following principles: emphasising operational safety and quality maintenance for all of its vessels; complying with all current and proposed environmental regulations; outsourcing technical operations and crewing; achieving low operational costs of vessels; achieving high utilisation of its vessels; competitive financing arrangements; and develop relationship to main charterers. “
Several other equities research analysts also recently commented on FRO. ValuEngine upgraded Frontline from a sell rating to a hold rating in a report on Wednesday, January 2nd. Wells Fargo & Co downgraded Frontline from an outperform rating to a market perform rating and dropped their target price for the company from $7.00 to $5.50 in a report on Thursday, January 10th. Morgan Stanley reiterated a hold rating on shares of Frontline in a report on Friday, February 15th. Finally, DNB Markets upgraded Frontline from a hold rating to a buy rating in a report on Tuesday, February 12th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has an average rating of Hold and an average target price of $6.76.
Shares of NYSE:FRO opened at $7.76 on Thursday. The stock has a market cap of $1.32 billion, a P/E ratio of -55.43, a P/E/G ratio of 3.45 and a beta of 1.02. The company has a current ratio of 1.44, a quick ratio of 1.12 and a debt-to-equity ratio of 1.46. Frontline has a one year low of $4.24 and a one year high of $8.33.
Frontline (NYSE:FRO) last announced its earnings results on Thursday, February 28th. The shipping company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.02). The company had revenue of $122.34 million for the quarter, compared to analysts’ expectations of $124.00 million. Frontline had a negative net margin of 1.20% and a negative return on equity of 2.04%. On average, equities analysts forecast that Frontline will post 0.45 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of FRO. Odey Asset Management Group Ltd increased its holdings in Frontline by 2,276.9% during the 4th quarter. Odey Asset Management Group Ltd now owns 3,422,053 shares of the shipping company’s stock worth $18,924,000 after purchasing an additional 3,278,079 shares during the last quarter. Deutsche Bank AG increased its holdings in Frontline by 130.7% during the 4th quarter. Deutsche Bank AG now owns 740,715 shares of the shipping company’s stock worth $4,094,000 after purchasing an additional 419,702 shares during the last quarter. Jane Street Group LLC increased its holdings in Frontline by 492.2% during the 4th quarter. Jane Street Group LLC now owns 133,129 shares of the shipping company’s stock worth $751,000 after purchasing an additional 110,648 shares during the last quarter. BlackRock Inc. increased its holdings in Frontline by 2.9% during the 4th quarter. BlackRock Inc. now owns 3,739,119 shares of the shipping company’s stock worth $20,678,000 after purchasing an additional 105,778 shares during the last quarter. Finally, Man Group plc purchased a new stake in Frontline during the 3rd quarter worth approximately $385,000. Institutional investors own 18.92% of the company’s stock.
Frontline Company Profile
Frontline Ltd., a shipping company, engages in the seaborne transportation of crude oil and oil products worldwide. It owns and operates oil and product tankers. As of December 31, 2018, the company's fleet consisted of 61 vessels, which included very large crude carrier, Suezmax, and LR2/Aframax tankers with an aggregate capacity of approximately 11.6 million deadweight ton.
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