Frontline (NYSE:FRO) Receives New Coverage from Analysts at StockNews.com

Analysts at StockNews.com began coverage on shares of Frontline (NYSE:FRO – Get Rating) in a note issued to investors on Friday. The firm set a “hold” rating on the shipping company’s stock.

Several other equities analysts also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Frontline from $16.50 to $19.00 and gave the company a “hold” rating in a report on Monday, March 6th. Jefferies Financial Group reissued a “buy” rating and set a $22.00 price target on shares of Frontline in a report on Tuesday, February 28th. Finally, TheStreet raised shares of Frontline from a “c” rating to a “b-” rating in a report on Wednesday, November 30th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Frontline currently has an average rating of “Hold” and a consensus target price of $17.00.

Frontline Stock Performance

Frontline stock opened at $15.82 on Friday. The stock has a market cap of $3.52 billion, a P/E ratio of 7.36 and a beta of 0.21. The company has a current ratio of 2.25, a quick ratio of 1.63 and a debt-to-equity ratio of 0.93. The stock has a 50 day moving average of $15.72 and a 200-day moving average of $13.74. Frontline has a 52 week low of $7.48 and a 52 week high of $19.29.

Frontline (NYSE:FRO – Get Rating) last announced its quarterly earnings data on Tuesday, February 28th. The shipping company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.11). Frontline had a return on equity of 17.21% and a net margin of 33.05%. The firm had revenue of $530.10 million for the quarter, compared to the consensus estimate of $363.39 million. During the same quarter last year, the business earned ($0.02) earnings per share. The business’s revenue for the quarter was up 148.3% compared to the same quarter last year. On average, analysts expect that Frontline will post 3.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Frontline

Several institutional investors have recently bought and sold shares of the stock. Two Sigma Investments LP lifted its holdings in Frontline by 72.0% in the fourth quarter. Two Sigma Investments LP now owns 5,133,763 shares of the shipping company’s stock worth $62,324,000 after purchasing an additional 2,149,377 shares during the period. Vanguard Group Inc. raised its position in Frontline by 4.8% in the third quarter. Vanguard Group Inc. now owns 4,717,845 shares of the shipping company’s stock worth $51,567,000 after acquiring an additional 214,352 shares in the last quarter. Renaissance Technologies LLC raised its position in Frontline by 345.4% in the third quarter. Renaissance Technologies LLC now owns 4,535,940 shares of the shipping company’s stock worth $49,796,000 after acquiring an additional 3,517,554 shares in the last quarter. Millennium Management LLC raised its position in Frontline by 102.7% in the fourth quarter. Millennium Management LLC now owns 4,483,826 shares of the shipping company’s stock worth $54,434,000 after acquiring an additional 2,271,724 shares in the last quarter. Finally, Two Sigma Advisers LP raised its position in Frontline by 62.8% in the fourth quarter. Two Sigma Advisers LP now owns 4,477,000 shares of the shipping company’s stock worth $54,351,000 after acquiring an additional 1,726,220 shares in the last quarter. Institutional investors and hedge funds own 35.91% of the company’s stock.

About Frontline

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Frontline Plc is an international shipping company, which engages in the ownership and operation of oil and product tankers. It also offers the seaborne transportation of crude oil and oil products. The company was founded in 1985 and is headquartered in Limmasol, Cyprus.