Frontline Ltd. (FRO) Lifted to Hold at BidaskClub

BidaskClub upgraded shares of Frontline Ltd. (NYSE:FRO) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

Several other brokerages also recently issued reports on FRO. Zacks Investment Research upgraded shares of Frontline from a sell rating to a hold rating in a research report on Thursday, May 11th. ValuEngine downgraded shares of Frontline from a buy rating to a hold rating in a research report on Friday, June 2nd. Credit Suisse Group reduced their price target on shares of Frontline from $8.00 to $6.00 and set a neutral rating on the stock in a research report on Wednesday, May 31st. Finally, Seaport Global Securities raised Frontline from a neutral rating to a buy rating and set a $8.00 price objective for the company in a report on Wednesday, May 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $7.00.

Frontline (FRO) traded down 1.10% during trading on Wednesday, reaching $6.32. 235,432 shares of the company’s stock traded hands. Frontline has a 12 month low of $5.35 and a 12 month high of $8.90. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 16.50 and a beta of 1.97. The firm’s 50 day moving average is $5.71 and its 200-day moving average is $6.51.

Frontline (NYSE:FRO) last issued its quarterly earnings results on Tuesday, May 30th. The shipping company reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.04. The business had revenue of $121.94 million for the quarter, compared to the consensus estimate of $103.70 million. Frontline had a net margin of 9.25% and a return on equity of 8.76%. Analysts expect that Frontline will post $0.05 EPS for the current fiscal year.

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The business also recently declared a quarterly dividend, which was paid on Wednesday, June 21st. Stockholders of record on Monday, June 12th were paid a $0.15 dividend. The ex-dividend date was Thursday, June 8th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 9.39%. Frontline’s dividend payout ratio (DPR) is presently 150.00%.

Several hedge funds have recently made changes to their positions in FRO. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Frontline by 426.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,564 shares of the shipping company’s stock worth $112,000 after buying an additional 13,420 shares during the period. Cipher Capital LP boosted its stake in shares of Frontline by 5.6% in the first quarter. Cipher Capital LP now owns 400,829 shares of the shipping company’s stock worth $2,702,000 after buying an additional 21,282 shares during the period. Boston Partners bought a new stake in shares of Frontline during the first quarter worth approximately $2,231,000. Jane Street Group LLC boosted its stake in shares of Frontline by 142.7% in the first quarter. Jane Street Group LLC now owns 141,292 shares of the shipping company’s stock worth $945,000 after buying an additional 83,078 shares during the period. Finally, Guggenheim Capital LLC boosted its stake in shares of Frontline by 60.2% in the fourth quarter. Guggenheim Capital LLC now owns 191,525 shares of the shipping company’s stock worth $1,362,000 after buying an additional 71,997 shares during the period. 11.09% of the stock is owned by institutional investors.

About Frontline