Frontline (NYSE:FRO) posted its quarterly earnings results on Thursday. The shipping company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.03, MarketWatch Earnings reports. Frontline had a negative net margin of 1.20% and a negative return on equity of 2.04%. During the same quarter last year, the company earned ($0.08) earnings per share.
FRO opened at $8.95 on Thursday. The stock has a market cap of $1.29 billion, a P/E ratio of -63.93, a P/E/G ratio of 4.19 and a beta of 1.13. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.44 and a quick ratio of 1.12. Frontline has a fifty-two week low of $4.46 and a fifty-two week high of $9.12.
Several research firms recently weighed in on FRO. Zacks Investment Research lowered shares of Frontline from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. ValuEngine upgraded shares of Frontline from a “hold” rating to a “buy” rating in a research report on Wednesday. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $6.80.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. grew its position in Frontline by 213.6% during the first quarter. Goldman Sachs Group Inc. now owns 481,311 shares of the shipping company’s stock valued at $3,110,000 after buying an additional 327,821 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Frontline by 4.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 154,121 shares of the shipping company’s stock valued at $996,000 after purchasing an additional 6,698 shares during the last quarter. Williams Jones & Associates LLC purchased a new stake in Frontline during the first quarter valued at about $134,000. Bienville Capital Management LLC purchased a new stake in Frontline during the first quarter valued at about $65,000. Finally, Trexquant Investment LP purchased a new stake in shares of Frontline in the first quarter worth about $138,000. Institutional investors own 18.72% 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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