Frontline (NYSE:FRO) Now Covered by Jefferies Financial Group

Investment analysts at Jefferies Financial Group assumed coverage on shares of Frontline (NYSE:FRO – Get Rating) in a note issued to investors on Wednesday, The Fly reports. The firm set a “hold” rating on the shipping company’s stock.

Several other equities research analysts have also commented on the stock. Zacks Investment Research raised shares of Frontline from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 2nd. HC Wainwright boosted their target price on shares of Frontline from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, April 8th. Finally, StockNews.com started coverage on shares of Frontline in a research report on Thursday, March 31st. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Frontline presently has a consensus rating of “Hold” and an average price target of $9.23.

FRO opened at $8.30 on Wednesday. Frontline has a fifty-two week low of $6.10 and a fifty-two week high of $10.43. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.14 and a quick ratio of 0.86. The company’s 50-day moving average is $8.86 and its 200 day moving average is $8.03. The firm has a market capitalization of $1.69 billion, a PE ratio of -166.00 and a beta of 0.05.

Frontline (NYSE:FRO – Get Rating) last posted its quarterly earnings data on Thursday, February 17th. The shipping company reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.04). The company had revenue of $213.50 million for the quarter, compared to analysts’ expectations of $108.70 million. Frontline had a negative net margin of 1.49% and a negative return on equity of 3.40%. The business’s quarterly revenue was up 112.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.10) EPS. As a group, analysts expect that Frontline will post 0.66 EPS for the current year.

Large investors have recently bought and sold shares of the company. Beacon Capital Management Inc. acquired a new stake in Frontline in the 1st quarter valued at $25,000. Counterpoint Mutual Funds LLC purchased a new position in shares of Frontline during the 4th quarter worth $27,000. Renaissance Technologies LLC purchased a new stake in Frontline in the 4th quarter valued at about $80,000. Cetera Investment Advisers lifted its position in 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 buying an additional 1,479 shares during the last quarter. Finally, AlphaCrest Capital Management LLC acquired a new position in Frontline in the fourth quarter valued at about $94,000. 20.33% 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.

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