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.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on FRO. Jefferies Financial Group began coverage on shares of Frontline in a research note on Wednesday, July 20th. They set a "hold" rating and a $9.00 price objective on the stock. HC Wainwright raised their price objective on shares of Frontline from $8.00 to $10.00 and gave the company a "neutral" rating in a report on Wednesday, May 25th. Finally, StockNews.com lowered shares of Frontline from a "hold" rating to a "sell" rating in a report on Wednesday, July 27th.
Frontline Stock Up 1.7 %
NYSE:FRO traded up $0.19 during mid-day trading on Tuesday, hitting $11.44. The company's stock had a trading volume of 2,568,680 shares, compared to its average volume of 2,680,386. The company's 50 day simple moving average is $9.42 and its 200 day simple moving average is $8.96. Frontline has a twelve month low of $6.10 and a twelve month high of $11.61. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of -228.80 and a beta of 0.19.
Frontline (NYSE:FRO - Get Rating) last posted its quarterly earnings data on Tuesday, May 24th. The shipping company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.01). The firm had revenue of $103.79 million for the quarter, compared to the consensus estimate of $106.78 million. Frontline had a negative net margin of 1.15% and a negative return on equity of 4.01%. During the same period in the previous year, the firm earned $0.04 EPS. Analysts anticipate that Frontline will post 0.75 earnings per share for the current year.