Frontline (FRO) Hits New 1-Year High at $8.46

Shares of Frontline Ltd (NYSE:FRO) hit a new 52-week high during trading on Tuesday . The company traded as high as $8.46 and last traded at $8.44, with a volume of 41054 shares trading hands. The stock had previously closed at $7.60.

A number of analysts have commented on FRO shares. DNB Markets upgraded shares of Frontline from a “hold” rating to a “buy” rating in a research note on Tuesday, February 12th. Morgan Stanley reiterated a “hold” rating on shares of Frontline in a research note on Friday, February 15th. Finally, Zacks Investment Research cut shares of Frontline from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Frontline presently has an average rating of “Hold” and a consensus target price of $6.80.

The company has a market cap of $1.29 billion, a P/E ratio of -64.21, a price-to-earnings-growth ratio of 4.19 and a beta of 1.13. 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 (NYSE:FRO) last announced its quarterly earnings results on Thursday, February 28th. The shipping company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). The firm had revenue of $122.34 million during the quarter, compared to analyst estimates of $124.00 million. Frontline had a negative net margin of 1.20% and a negative return on equity of 2.04%. As a group, equities research analysts expect that Frontline Ltd will post 0.36 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. Odey Asset Management Group Ltd raised its position in shares of Frontline by 2,276.9% in the fourth quarter. Odey Asset Management Group Ltd now owns 3,422,053 shares of the shipping company’s stock valued at $18,924,000 after purchasing an additional 3,278,079 shares during the period. Deutsche Bank AG raised its position in shares of Frontline by 130.7% in the fourth quarter. Deutsche Bank AG now owns 740,715 shares of the shipping company’s stock valued at $4,094,000 after purchasing an additional 419,702 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Frontline by 213.6% in the first quarter. Goldman Sachs Group Inc. now owns 481,311 shares of the shipping company’s stock valued at $3,110,000 after purchasing an additional 327,821 shares during the period. Jane Street Group LLC raised its position in shares of Frontline by 492.2% in the fourth quarter. Jane Street Group LLC now owns 133,129 shares of the shipping company’s stock valued at $751,000 after purchasing an additional 110,648 shares during the period. Finally, BlackRock Inc. raised its position in shares of Frontline by 2.9% in the fourth quarter. BlackRock Inc. now owns 3,739,119 shares of the shipping company’s stock valued at $20,678,000 after purchasing an additional 105,778 shares during the period. Hedge funds and other institutional investors own 18.72% of the company’s stock.

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Frontline Company Profile (NYSE:FRO)

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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