Shares of Frontline Ltd. (NYSE:FRO – Get Rating) gapped down before the market opened on Monday . The stock had previously closed at $12.11, but opened at $11.63. Frontline shares last traded at $11.88, with a volume of 230 shares.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on FRO. Jefferies Financial Group upgraded Frontline from a "hold" rating to a "buy" rating in a report on Tuesday, September 6th. StockNews.com lowered Frontline from a "hold" rating to a "sell" rating in a research report on Monday, September 19th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Frontline from $7.00 to $12.00 and gave the stock a "hold" rating in a research report on Tuesday, September 6th.
Get Frontline alerts:Frontline Stock Down 1.6 %
The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $2.61 billion, a PE ratio of 37.84 and a beta of 0.10. The firm has a 50-day moving average of $11.52 and a two-hundred day moving average of $9.84.
Frontline (NYSE:FRO – Get Rating) last issued its earnings results on Thursday, August 25th. The shipping company reported $0.21 earnings per share for the quarter. Frontline had a return on equity of 0.01% and a net margin of 7.18%. The business had revenue of $159.19 million for the quarter, compared to analyst estimates of $164.27 million. During the same period last year, the company posted ($0.12) EPS. On average, equities research analysts forecast that Frontline Ltd. will post 1.24 EPS for the current year.Frontline Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 16th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 5.12%. The ex-dividend date is Thursday, September 15th. Frontline's dividend payout ratio (DPR) is presently 193.55%.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA raised its position in Frontline by 134.0% in the fourth quarter. BNP Paribas Arbitrage SA now owns 71,560 shares of the shipping company's stock valued at $506,000 after purchasing an additional 40,978 shares during the period. Skandinaviska Enskilda Banken AB publ raised its position in Frontline by 111.8% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 88,767 shares of the shipping company's stock valued at $782,000 after purchasing an additional 46,865 shares during the period. Victory Capital Management Inc. purchased a new position in Frontline in the first quarter valued at about $555,000. GSA Capital Partners LLP acquired a new stake in shares of Frontline during the first quarter valued at about $1,323,000. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of Frontline during the first quarter valued at about $93,000. 26.59% of the stock is owned by hedge funds and other institutional investors.
Frontline Company Profile
(Get Rating)
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, 2021, the company operated a fleet of 70 vessels. It is also involved in the charter, purchase, and sale of vessels. The company was founded in 1985 and is based in Hamilton, Bermuda.
Featured Stories
- Get a free copy of the StockNews.com research report on Frontline (FRO)
- Defensive Stocks For A Volatile Market
- SunPower Is Ready To Power Up Triple-Digit Earnings Gains
- Will UPS Be Next to Deliver a Warning?
- Is This the Darkest Before the Dawn for Gap Stock?
- Build A Better Tech Portfolio With Jabil Inc.
Receive News & Ratings for Frontline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Frontline and related companies with MarketBeat.com's FREE daily email newsletter.