Frontline Ltd. (NYSE:FRO) – Equities research analysts at Seaport Global Securities lowered their Q3 2016 earnings estimates for shares of Frontline in a research report issued to clients and investors on Tuesday. Seaport Global Securities analyst M. Fyhr now forecasts that the firm will earn ($0.03) per share for the quarter, down from their previous forecast of $0.02. Seaport Global Securities also issued estimates for Frontline’s Q4 2016 earnings at $0.01 EPS and FY2017 earnings at $0.72 EPS.
Frontline (NYSE:FRO) last released its quarterly earnings results on Wednesday, August 31st. The company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by $0.18. Frontline had a return on equity of 20.67% and a net margin of 31.41%.
Other analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Frontline from a “buy” rating to a “hold” rating in a research note on Tuesday, August 2nd. Clarkson Capital reissued a “buy” rating on shares of Frontline in a research note on Friday, June 17th. Morgan Stanley reissued an “equal weight” rating and issued a $7.00 price target (down previously from $10.00) on shares of Frontline in a research note on Friday, August 26th. Finally, Wells Fargo & Co. reaffirmed a “hold” rating on shares of Frontline in a research report on Tuesday, September 27th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Frontline presently has a consensus rating of “Hold” and a consensus target price of $11.90.
Frontline (NYSE:FRO) opened at 7.48 on Thursday. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 4.90 and a beta of 2.30. The firm has a 50-day moving average of $7.37 and a 200 day moving average of $7.94. Frontline has a 12-month low of $6.80 and a 12-month high of $17.05.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 19th. Shareholders of record on Monday, September 12th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, September 8th. This represents a $0.80 dividend on an annualized basis and a yield of 10.70%.
A number of large investors have recently added to or reduced their stakes in FRO. Nisa Investment Advisors LLC acquired a new stake in Frontline during the third quarter worth about $108,000. QVT Financial LP acquired a new stake in Frontline during the second quarter worth about $3,202,000. Cubist Systematic Strategies LLC raised its stake in Frontline by 109.6% in the second quarter. Cubist Systematic Strategies LLC now owns 53,517 shares of the company’s stock worth $421,000 after buying an additional 27,983 shares during the period. A.R.T. Advisors LLC raised its stake in Frontline by 30.8% in the second quarter. A.R.T. Advisors LLC now owns 136,298 shares of the company’s stock worth $1,072,000 after buying an additional 32,100 shares during the period. Finally, Guggenheim Capital LLC acquired a new stake in Frontline during the second quarter worth about $1,803,000. Institutional investors own 9.12% of the company’s stock.
Frontline Company Profile
Frontline Ltd. is a shipping company. The Company is engaged in the seaborne transportation of crude oil and oil products. The Company operates through the tankers segment. The tankers segment includes crude oil tankers and product tankers. The Company operates through subsidiaries and partnerships located in Bermuda, India, the Philippines, Liberia, Norway, the United Kingdom and Singapore.
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