Frontline (NYSE:FRO) Issues Earnings Results

Frontline (NYSE:FROGet Rating) posted its quarterly earnings data on Tuesday. The shipping company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01), Briefing.com reports. Frontline had a negative net margin of 1.49% and a negative return on equity of 3.40%. During the same period last year, the company posted $0.04 EPS.

FRO opened at $9.59 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 0.86 and a debt-to-equity ratio of 1.31. The company’s fifty day moving average price is $8.71 and its two-hundred day moving average price is $7.95. Frontline has a 1-year low of $6.10 and a 1-year high of $10.43. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -191.80 and a beta of 0.10.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Toroso Investments LLC raised its holdings in shares of Frontline by 5.0% in the fourth quarter. Toroso Investments LLC now owns 27,334 shares of the shipping company’s stock valued at $193,000 after purchasing an additional 1,311 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of Frontline by 14.5% in the fourth quarter. Cetera Investment Advisers now owns 11,703 shares of the shipping company’s stock valued at $83,000 after purchasing an additional 1,479 shares during the last quarter. Morgan Stanley raised its holdings in shares of Frontline by 1.0% in the third quarter. Morgan Stanley now owns 328,359 shares of the shipping company’s stock valued at $3,076,000 after purchasing an additional 3,401 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Frontline by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 258,599 shares of the shipping company’s stock valued at $1,829,000 after purchasing an additional 3,852 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of Frontline by 44.7% in the third quarter. Royal Bank of Canada now owns 22,618 shares of the shipping company’s stock valued at $212,000 after purchasing an additional 6,984 shares during the last quarter. Hedge funds and other institutional investors own 20.33% of the company’s stock.

A number of equities research analysts have recently commented on FRO shares. HC Wainwright upped their price objective on shares of Frontline from $8.00 to $10.00 in a research note on Wednesday. Jefferies Financial Group started coverage on shares of Frontline in a research note on Wednesday, April 27th. They issued a “hold” rating on the stock. StockNews.com started coverage on shares of Frontline in a research report on Thursday, March 31st. They set a “sell” rating on the stock. Finally, Zacks Investment Research downgraded shares of Frontline from a “buy” rating to a “hold” rating in a research report on Wednesday, May 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $9.49.

About Frontline (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.

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Earnings History for Frontline (NYSE:FRO)

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