Frontline (NYSE:FRO) Rating Lowered to Strong Sell at Kepler Capital Markets

Frontline (NYSE:FRO) was downgraded by research analysts at Kepler Capital Markets from a “hold” rating to a “strong sell” rating in a note issued to investors on Thursday,Zacks.com reports.

Separately, Jefferies Financial Group lowered their price target on Frontline from $26.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, December 17th. Two analysts have rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Frontline presently has an average rating of “Moderate Buy” and an average price target of $24.46.

Frontline Stock Up 0.2 %

FRO stock opened at $14.95 on Thursday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 1.44. The firm’s 50-day simple moving average is $16.59 and its 200 day simple moving average is $18.14. The stock has a market cap of $3.33 billion, a PE ratio of 6.10 and a beta of -0.04. Frontline has a fifty-two week low of $13.17 and a fifty-two week high of $29.39.

Frontline (NYSE:FRO) last announced its quarterly earnings results on Friday, February 28th. The shipping company reported $0.20 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.20. The company had revenue of $425.60 million during the quarter, compared to analyst estimates of $273.16 million. Frontline had a return on equity of 19.25% and a net margin of 25.64%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.46 EPS. As a group, sell-side analysts predict that Frontline will post 1.78 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Jones Financial Companies Lllp purchased a new position in Frontline during the 4th quarter valued at about $31,000. Golden State Wealth Management LLC acquired a new stake in shares of Frontline during the 4th quarter valued at about $84,000. National Bank of Canada FI raised its holdings in shares of Frontline by 331.8% during the 4th quarter. National Bank of Canada FI now owns 6,166 shares of the shipping company’s stock valued at $87,000 after purchasing an additional 4,738 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Frontline by 84.4% in the fourth quarter. Blue Trust Inc. now owns 8,921 shares of the shipping company’s stock worth $127,000 after buying an additional 4,084 shares during the last quarter. Finally, Nexpoint Asset Management L.P. acquired a new stake in Frontline in the 4th quarter worth approximately $159,000. 22.70% of the stock is owned by institutional investors and hedge funds.

About Frontline

Frontline plc, 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, 2022, 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 Limassol, Cyprus.