Q4 2019 Earnings Forecast for Frontline Ltd. Issued By Seaport Global Securities (FRO)
Frontline Ltd. (NYSE:FRO) – Investment analysts at Seaport Global Securities increased their Q4 2019 earnings per share (EPS) estimates for Frontline in a research note issued on Wednesday. Seaport Global Securities analyst M. Fyhr now anticipates that the shipping company will post earnings of $0.07 per share for the quarter, up from their prior forecast of $0.06. Seaport Global Securities currently has a “Buy” rating and a $7.00 target price on the stock.
A number of other research analysts have also issued reports on the stock. ValuEngine lowered shares of Frontline from a “sell” rating to a “strong sell” rating in a report on Thursday. Zacks Investment Research raised shares of Frontline from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $5.67.
Frontline (NYSE:FRO) last released its earnings results on Wednesday, February 28th. The shipping company reported $0.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.11. The company had revenue of $99.20 million for the quarter, compared to analyst estimates of $88.40 million. Frontline had a negative net margin of 40.98% and a negative return on equity of 0.30%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Voya Investment Management LLC increased its stake in shares of Frontline by 24.4% during the 2nd quarter. Voya Investment Management LLC now owns 32,821 shares of the shipping company’s stock valued at $188,000 after acquiring an additional 6,432 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Frontline by 17.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 59,870 shares of the shipping company’s stock valued at $343,000 after acquiring an additional 8,958 shares during the last quarter. Mackenzie Financial Corp increased its stake in shares of Frontline by 42.5% during the 4th quarter. Mackenzie Financial Corp now owns 56,523 shares of the shipping company’s stock valued at $259,000 after acquiring an additional 16,844 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Frontline by 110.6% during the 3rd quarter. Legal & General Group Plc now owns 33,815 shares of the shipping company’s stock valued at $204,000 after acquiring an additional 17,759 shares during the last quarter. Finally, Teachers Advisors LLC increased its stake in shares of Frontline by 18.2% during the 2nd quarter. Teachers Advisors LLC now owns 135,816 shares of the shipping company’s stock valued at $778,000 after acquiring an additional 20,935 shares during the last quarter. 14.02% of the stock is owned by institutional investors.
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Frontline Company Profile
Frontline Ltd. is a shipping company. The Company is engaged in the seaborne transportation of crude oil and oil products. Its tankers segment includes crude oil tankers and product tankers. As of December 31, 2016, the Company’s fleet consisted of 28 vessels owned by the Company (seven very large crude carriers (VLCCs), 10 Suezmax tankers and 11 Aframax/LR2 tankers); 13 vessels that are under capital leases (11 VLCCs and two Suezmax tankers); one VLCC that is recorded as an investment in finance lease; four vessels chartered-in for periods of 12 months, including extension options (two VLCCs and two Suezmax tankers); two VLCCs where cost/revenue is split equally with a third party (of which one is chartered-in by it and one by a third party); three medium range product tankers that are chartered-in on short term time charters with a remaining duration of less than two months, and five vessels that are under commercial management (two Suezmax tankers and three Aframax oil tankers).
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