Seaport Global Securities Brokers Raise Earnings Estimates for Frontline Ltd. (FRO)
Frontline Ltd. (NYSE:FRO) – Research analysts at Seaport Global Securities increased their Q1 2018 earnings per share estimates for shares of Frontline in a report released on Wednesday. Seaport Global Securities analyst M. Fyhr now anticipates that the shipping company will post earnings per share of $0.07 for the quarter, up from their prior forecast of $0.06. Seaport Global Securities also issued estimates for Frontline’s Q2 2018 earnings at $0.07 EPS, Q3 2018 earnings at $0.08 EPS and FY2018 earnings at $0.30 EPS.
Several other brokerages have also weighed in on FRO. Zacks Investment Research lowered shares of Frontline from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. BidaskClub upgraded shares of Frontline from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. ValuEngine lowered shares of Frontline from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Credit Suisse Group reiterated a “neutral” rating on shares of Frontline in a research report on Tuesday, September 5th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $6.00.
Shares of Frontline (FRO) opened at $5.59 on Monday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.07. Frontline has a 12-month low of $4.87 and a 12-month high of $7.83. The firm has a market cap of $7,620.00, a PE ratio of 34.94 and a beta of 1.94.
Frontline (NYSE:FRO) last posted its quarterly earnings results on Wednesday, August 30th. The shipping company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.05). Frontline had a return on equity of 1.69% and a net margin of 0.29%. The company had revenue of $89.99 million during the quarter, compared to analyst estimates of $86.55 million.
Institutional investors have recently modified their holdings of the company. Legal & General Group Plc boosted its position in shares of Frontline by 3.8% during the 1st quarter. Legal & General Group Plc now owns 16,056 shares of the shipping company’s stock valued at $108,000 after acquiring an additional 581 shares in the last quarter. Aperio Group LLC bought a new position in Frontline during the 2nd quarter valued at about $124,000. KCG Holdings Inc. lifted its holdings in Frontline by 40.3% during the 1st quarter. KCG Holdings Inc. now owns 25,073 shares of the shipping company’s stock valued at $169,000 after purchasing an additional 7,205 shares during the last quarter. Parametric Portfolio Associates LLC lifted its holdings in Frontline by 72.3% during the 1st quarter. Parametric Portfolio Associates LLC now owns 26,537 shares of the shipping company’s stock valued at $179,000 after purchasing an additional 11,133 shares during the last quarter. Finally, Nisa Investment Advisors LLC bought a new position in Frontline during the 2nd quarter valued at about $182,000. Institutional investors and hedge funds own 12.52% of the company’s stock.
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