In a research note that was published on Thursday by StockNews.com, the stock of Frontline (NYSE: FRO), which had been given a “sell” rating, was instead recommended to “hold.”
On February 28th, the most recent quarterly earnings report for Frontline (NYSE: FRO) was made public for investors to view.
The quarterly profit of the shipping company came in at $0.97 per share, which was $0.97 less than the average analyst prediction of $1.08 per share.
This represents a difference of $0.11 per share. Frontline successfully generated a return on equity of 17.21% and a net margin of 33.05% during the period under review.
The company’s sales for the quarter came in at $530.10 million, which was significantly higher than the consensus projection of $363.39 million for the quarter’s sales. When compared to the previous year’s results for the same quarter, the company experienced a loss of $0.02 per share. Compared to the current quarter, the previous quarter’s sales of the company’s products and services saw a 148.3% increase.
It was anticipated by stock and share market analysts that Frontline would generate $3.01 in earnings per share during the current fiscal year.
NYSE: FRO started trading for the first time on Thursday for $18.58.
The current price of Frontline represents a 52-week high of $19.29, while the current price represents a 52-week low of $7.48.
Both the price-to-earnings ratio of the stock, which is 8.64, and the beta value of the stock, which is 0.21, are very high.
The company’s stock on the market is approximately 4.14 billion dollars.
A debt-to-equity ratio comes in at 0.93; a quick ratio at 1.63; a current ratio at 2.25; and a quick ratio at 1.63.
The stock is currently trading at $15.14 according to its simple moving average for the past 50 days, while its simple moving average for the past 200 days is $13.54.
Recently, several other analysts who were part of the coverage have also provided their opinions on the stock after evaluating it. Jefferies Financial Group reaffirmed its “buy” rating on shares of Frontline and set a price objective of $22.00 for the stock in a research report released on Tuesday, February 28th.
Deutsche Bank Aktiengesellschaft, in a research note published on Monday, reaffirmed their “hold” rating on the company’s stock and announced an increase in their price objective for Frontline shares, which went from $16.50 to $19.00.
The price objective for Frontline shares had previously been $16.50. Finally, TheStreet raised their rating on shares of Frontline from “c” to “b-” in a research report published on November 30th.
This change reflects a higher level of confidence in the company. However, one of the analysts has assigned a buy rating to the stock, even though the general recommendation from the specialists is to keep a hold position.
According to Bloomberg, the stock is currently rated “Hold” on average, and analysts have established a consensus price objective of $17.00 for the company.
Hedge funds and other institutional investors have been responsible for recent buying and selling activity in FRO shares. Over the final three months of 2018, Sei Investments Company completed an increase of 0.9% in the proportion of Frontline stock it owned.
The total value of the shares currently held by Sei Investments Co is $1,174,000, and the company has 96,726.
This represents an increase of 833 shares compared to the number of shares held at the beginning of the period. Over the final three months of 2018, Credit Suisse AG completed an increase of 1.0% in the proportion of Frontline stock it owned. Credit Suisse AG now holds 112,105 shares of the shipping company’s stock, currently valued at $1,361,000, following the acquisition of an additional 1,153 shares during the quarter.
These shares have an approximate market value of $1,361,000.
Price T. Rowe Associates INC (MD), during the second quarter, brought the total amount of Frontline stock they owned to a level that was 10.9% higher than before.
Price T. Rowe Associates INC, MD, now holds 12,018 shares of the transportation company’s stock, currently valued at $106,000, thanks to purchasing an additional 1,178 shares during the period in question.
This brings the total number of shares owned by the company to 12,018.
In the last three months of 2018, Navellier & Associates, INC increased the percentage of Frontline in which it was invested by 0.9%.
The shipping company’s stock is currently valued at $1,730,000, and Navellier & Associates INC now owns 142,529 shares of it after purchasing an additional 1,298 shares during the period in question.
During the second quarter, Amundi eventually reached a point where it was able to increase the amount of Frontline stock that is owned by 46.2%.
Amundi now has 4,389 shares of the shipping company’s stock, valued at $37,000, thanks to the fact that he made an additional purchase of 1,386 shares during the month.
During the period in question, these shares were purchased. Currently, 35.91% of the company’s shares are owned by hedge funds and other institutional investors.
A multinational shipping corporation, Frontline Plc, owns and operates a fleet of oil and product tankers as part of its business operations.
In addition, it offers the service of transporting crude oil and various petroleum products using marine vessels.
Limmasol, which is a city in the country of Cyprus, serves as the location of the company’s headquarters.
The company was founded in 1985.
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