Frontline (NYSE:FRO) Releases Earnings Results, Meets Estimates

Frontline (NYSE:FROGet Rating) issued its quarterly earnings results on Tuesday. The shipping company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01), Briefing.com reports. Frontline had a negative net margin of 1.49% and a negative return on equity of 3.40%. During the same quarter last year, the firm earned $0.04 EPS.

FRO opened at $10.50 on Thursday. Frontline has a 1-year low of $6.10 and a 1-year high of $10.50. The company has a current ratio of 1.14, a quick ratio of 0.86 and a debt-to-equity ratio of 1.31. The company has a market cap of $2.14 billion, a P/E ratio of -210.00 and a beta of 0.10. The company has a fifty day moving average price of $8.75 and a two-hundred day moving average price of $7.96.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Credit Suisse AG increased its position in shares of Frontline by 30.3% during the fourth quarter. Credit Suisse AG now owns 106,751 shares of the shipping company’s stock worth $755,000 after acquiring an additional 24,812 shares in the last quarter. PDT Partners LLC bought a new stake in shares of Frontline during the first quarter worth about $466,000. Toroso Investments LLC increased its position in shares of Frontline by 89.7% during the first quarter. Toroso Investments LLC now owns 51,847 shares of the shipping company’s stock worth $456,000 after acquiring an additional 24,513 shares in the last quarter. Squarepoint Ops LLC increased its position in shares of Frontline by 81.7% during the fourth quarter. Squarepoint Ops LLC now owns 52,104 shares of the shipping company’s stock worth $368,000 after acquiring an additional 23,426 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in shares of Frontline by 113.4% during the third quarter. BNP Paribas Arbitrage SA now owns 30,582 shares of the shipping company’s stock worth $287,000 after acquiring an additional 16,248 shares in the last quarter. 20.33% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently weighed in on FRO. HC Wainwright lifted their target price on shares of Frontline from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Wednesday. Jefferies Financial Group began coverage on shares of Frontline in a research note on Wednesday, April 27th. They set a “hold” rating for the company. Zacks Investment Research raised shares of Frontline from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Wednesday. Finally, StockNews.com began coverage on shares of Frontline in a research note on Thursday, March 31st. They set a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Frontline has an average rating of “Hold” and an average price target of $9.93.

About Frontline (Get Rating)

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, 2021, 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 Hamilton, Bermuda.

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Earnings History for Frontline (NYSE:FRO)

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