Frontline (NYSE:FRO) Cut to Sell at StockNews.com

StockNews.com lowered shares of Frontline (NYSE:FROGet Rating) from a hold rating to a sell rating in a research note published on Monday.

FRO has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Frontline from $7.00 to $12.00 and gave the stock a hold rating in a research note on Tuesday, September 6th. Jefferies Financial Group upgraded Frontline from a hold rating to a buy rating in a report on Tuesday, September 6th. Finally, HC Wainwright upped their price target on Frontline from $8.00 to $10.00 and gave the company a neutral rating in a research report on Wednesday, May 25th.

Frontline Stock Down 2.0 %

FRO stock opened at $12.90 on Monday. Frontline has a 52 week low of $6.10 and a 52 week high of $13.85. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.00. The firm has a 50-day simple moving average of $11.35 and a 200-day simple moving average of $9.76. The stock has a market capitalization of $2.87 billion, a P/E ratio of 41.61 and a beta of 0.10.

Frontline (NYSE:FROGet Rating) last announced its earnings results on Wednesday, August 24th. The shipping company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. Frontline had a return on equity of 0.01% and a net margin of 7.18%. During the same quarter in the previous year, the company earned ($0.12) earnings per share. Equities analysts forecast that Frontline will post 1.24 earnings per share for the current fiscal year.

Frontline Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 16th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.60 dividend on an annualized basis and a yield of 4.65%. Frontline’s payout ratio is 193.55%.

Hedge Funds Weigh In On Frontline

A number of institutional investors have recently added to or reduced their stakes in FRO. Beacon Capital Management Inc. acquired a new stake in shares of Frontline in the first quarter valued at $25,000. Amundi grew its stake in shares of Frontline by 46.2% in the second quarter. Amundi now owns 4,389 shares of the shipping company’s stock valued at $37,000 after buying an additional 1,386 shares in the last quarter. Quantbot Technologies LP grew its stake in shares of Frontline by 3,051.6% in the second quarter. Quantbot Technologies LP now owns 9,644 shares of the shipping company’s stock valued at $85,000 after buying an additional 9,338 shares in the last quarter. First Republic Investment Management Inc. acquired a new stake in shares of Frontline in the second quarter valued at $89,000. Finally, Bank of Nova Scotia acquired a new stake in shares of Frontline in the second quarter valued at $90,000. Hedge funds and other institutional investors own 26.59% of the company’s stock.

Frontline Company Profile

(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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