Frontline (NYSE:FRO) Given “Buy” Rating at Jefferies Financial Group

Jefferies Financial Group reaffirmed their buy rating on shares of Frontline (NYSE:FROFree Report) in a research report sent to investors on Thursday morning, Benzinga reports. Jefferies Financial Group currently has a $30.00 target price on the shipping company’s stock.

Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. cut their price objective on Frontline from $23.00 to $22.30 and set a neutral rating on the stock in a report on Friday, March 1st. StockNews.com lowered Frontline from a hold rating to a sell rating in a research report on Wednesday, May 1st.

Read Our Latest Stock Report on Frontline

Frontline Price Performance

Shares of FRO opened at $27.95 on Thursday. The company has a current ratio of 1.78, a quick ratio of 1.45 and a debt-to-equity ratio of 1.40. Frontline has a 1 year low of $13.35 and a 1 year high of $29.39. The stock has a market cap of $6.22 billion, a P/E ratio of 9.47 and a beta of 0.03. The stock’s 50-day moving average price is $25.00 and its two-hundred day moving average price is $22.91.

Frontline (NYSE:FROGet Free Report) last issued its earnings results on Thursday, February 29th. The shipping company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.05). Frontline had a return on equity of 26.00% and a net margin of 35.95%. The company had revenue of $415.00 million for the quarter, compared to the consensus estimate of $280.36 million. During the same quarter last year, the business posted $0.97 EPS. Frontline’s quarterly revenue was down 21.7% on a year-over-year basis. On average, equities analysts predict that Frontline will post 3.57 earnings per share for the current year.

Institutional Trading of Frontline

Several institutional investors have recently added to or reduced their stakes in the company. Cetera Advisors LLC boosted its stake in Frontline by 40.1% in the 1st quarter. Cetera Advisors LLC now owns 14,634 shares of the shipping company’s stock valued at $342,000 after purchasing an additional 4,187 shares during the period. Virtu Financial LLC bought a new stake in Frontline in the 1st quarter valued at $690,000. Tidal Investments LLC boosted its stake in Frontline by 12.9% in the 1st quarter. Tidal Investments LLC now owns 113,332 shares of the shipping company’s stock valued at $2,650,000 after purchasing an additional 12,992 shares during the period. B. Riley Wealth Advisors Inc. boosted its stake in Frontline by 15.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 21,820 shares of the shipping company’s stock valued at $510,000 after purchasing an additional 2,905 shares during the period. Finally, Magnetar Financial LLC bought a new stake in Frontline in the 1st quarter valued at $371,000. 22.70% of the stock is currently owned by institutional investors.

About Frontline

(Get Free Report)

Frontline plc, 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, 2022, 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 Limassol, Cyprus.

Further Reading

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