Shares of Frontline Ltd (NYSE:FRO) have received a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the stock, Marketbeat reports. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $6.17.

Several analysts recently issued reports on the company. Zacks Investment Research lowered Frontline from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. ValuEngine upgraded Frontline from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Wells Fargo & Co lowered Frontline from an “outperform” rating to a “market perform” rating and cut their price objective for the stock 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.

NYSE FRO traded down $0.12 on Wednesday, reaching $7.79. 10,232 shares of the stock traded hands, compared to its average volume of 572,166. The firm has a market cap of $1.33 billion, a P/E ratio of -55.71, a PEG ratio of 3.52 and a beta of 1.02. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.12 and a current ratio of 1.44. Frontline has a 12 month low of $4.24 and a 12 month high of $8.33.

Frontline (NYSE:FRO) last released its earnings results on Thursday, February 28th. The shipping company reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.02). Frontline had a negative net margin of 1.20% and a negative return on equity of 2.04%. The business had revenue of $122.34 million during the quarter, compared to analysts’ expectations of $124.00 million. On average, research analysts predict that Frontline will post 0.45 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the stock. Teachers Advisors LLC grew its position in Frontline by 10.4% during the third quarter. Teachers Advisors LLC now owns 156,779 shares of the shipping company’s stock worth $911,000 after buying an additional 14,815 shares in the last quarter. BlackRock Inc. grew its position in Frontline by 1.0% during the third quarter. BlackRock Inc. now owns 3,633,341 shares of the shipping company’s stock worth $21,108,000 after buying an additional 36,489 shares in the last quarter. GSA Capital Partners LLP grew its position in Frontline by 80.9% during the third quarter. GSA Capital Partners LLP now owns 150,513 shares of the shipping company’s stock worth $874,000 after buying an additional 67,313 shares in the last quarter. Panagora Asset Management Inc. lifted its stake in Frontline by 38,407.0% during the third quarter. Panagora Asset Management Inc. now owns 38,507 shares of the shipping company’s stock worth $224,000 after purchasing an additional 38,407 shares during the period. Finally, Paloma Partners Management Co bought a new position in Frontline during the third quarter worth about $106,000. 18.92% of the stock is currently owned by institutional investors and hedge funds.

About Frontline

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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Analyst Recommendations for Frontline (NYSE:FRO)

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