Frontline (NYSE:FRO) issued its quarterly earnings results on Wednesday. The shipping company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.09), Briefing.com reports. Frontline had a return on equity of 5.73% and a net margin of 8.21%. The firm had revenue of $187.64 million during the quarter, compared to analysts’ expectations of $106.40 million. During the same quarter in the prior year, the firm earned ($0.05) EPS. The firm’s revenue was down .6% compared to the same quarter last year.
Shares of NYSE:FRO opened at $11.11 on Thursday. The company has a market capitalization of $2.18 billion, a PE ratio of -79.36, a P/E/G ratio of 2.23 and a beta of 0.92. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.41. Frontline has a twelve month low of $4.82 and a twelve month high of $11.91. The firm has a 50 day simple moving average of $10.62 and a 200-day simple moving average of $8.80.
A number of research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Frontline from a “hold” rating to a “strong-buy” rating and set a $10.00 price target for the company in a research note on Wednesday, September 18th. Nordea Equity Research upgraded shares of Frontline from a “sell” rating to a “buy” rating in a research note on Wednesday, August 28th. ValuEngine downgraded shares of Frontline from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 29th. Evercore ISI upgraded shares of Frontline from an “in-line” rating to an “outperform” rating and set a $14.00 price objective for the company in a research report on Friday, October 18th. Finally, BTIG Research boosted their price objective on shares of Frontline from $12.00 to $18.00 in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $9.73.
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, 2018, the company's fleet consisted of 61 vessels, which included very large crude carrier, Suezmax, and LR2/Aframax tankers with an aggregate capacity of approximately 11.6 million deadweight ton.
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