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, hitting the consensus estimate 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 quarter in the prior year, the company earned $0.04 earnings per share.

Shares of FRO stock opened at $9.59 on Wednesday. The company has a market cap of $1.95 billion, a P/E ratio of -191.80 and a beta of 0.10. The firm has a fifty day moving average price of $8.71 and a 200 day moving average price of $7.95. The company has a current ratio of 1.14, a quick ratio of 0.86 and a debt-to-equity ratio of 1.31. Frontline has a 12 month low of $6.10 and a 12 month high of $10.43.

Hedge funds and other institutional investors have recently modified their holdings of the company. Credit Suisse AG boosted its holdings in Frontline by 30.3% in the fourth quarter. Credit Suisse AG now owns 106,751 shares of the shipping company’s stock valued at $755,000 after purchasing an additional 24,812 shares in the last quarter. PDT Partners LLC acquired a new position in shares of Frontline in the 1st quarter valued at $466,000. Toroso Investments LLC grew its position in shares of Frontline by 89.7% in the 1st quarter. Toroso Investments LLC now owns 51,847 shares of the shipping company’s stock valued at $456,000 after buying an additional 24,513 shares during the last quarter. Squarepoint Ops LLC raised its stake in Frontline by 81.7% during the 4th quarter. Squarepoint Ops LLC now owns 52,104 shares of the shipping company’s stock worth $368,000 after acquiring an additional 23,426 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in Frontline by 113.4% in the third quarter. BNP Paribas Arbitrage SA now owns 30,582 shares of the shipping company’s stock valued at $287,000 after acquiring an additional 16,248 shares during the last quarter. 20.33% of the stock is currently owned by institutional investors and hedge funds.

FRO has been the subject of several recent analyst reports. Jefferies Financial Group began coverage on Frontline in a research note on Wednesday, April 27th. They issued a “hold” rating for the company. HC Wainwright increased their target price on shares of Frontline from $8.00 to $10.00 in a research note on Wednesday. Zacks Investment Research downgraded Frontline from a “buy” rating to a “hold” rating in a report on Wednesday, May 4th. 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 assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $9.49.

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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Earnings History for Frontline (NYSE:FRO)

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