The Frontline Ltd. (FRO) Lifted to Buy at Seaport Global Securities

The Frontline Ltd. (FRO) Lifted to Buy at Seaport Global Securities

Several other analysts also recently weighed in on FRO. Zacks Investment Research upgraded Frontline from a sell rating to a hold rating in a research report on Monday, February 13th. Credit Suisse Group AG reissued a neutral rating on shares of Frontline in a research note on Wednesday, February 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $7.38.

Seaport Global Securities upgraded shares of Frontline Ltd. (NYSE:FRO) from a neutral rating to a buy rating in a report released on Wednesday. The brokerage currently has $8.00 price target on the shipping company’s stock.

Frontline (NYSE FRO) opened at 5.76 on Wednesday. The stock has a 50 day moving average price of $6.33 and a 200 day moving average price of $6.89. The firm has a market cap of $972.72 million, a P/E ratio of 14.12 and a beta of 2.36. Frontline has a 1-year low of $5.39 and a 1-year high of $10.41.

Frontline (NYSE:FRO) last announced its quarterly earnings data on Tuesday, May 30th. The shipping company reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.04. Frontline had a return on equity of 13.92% and a net margin of 21.54%. The firm had revenue of $121.94 million during the quarter, compared to the consensus estimate of $103.70 million. On average, analysts anticipate that Frontline will post $0.13 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 21st. Investors of record on Monday, June 12th will be paid a $0.15 dividend. The ex-dividend date is Thursday, June 8th. This represents a $0.60 annualized dividend and a yield of 10.42%.

A number of large investors have recently modified their holdings of FRO. Russell Investments Group Ltd. purchased a new stake in shares of Frontline during the fourth quarter valued at $3,322,000. Cipher Capital LP boosted its stake in shares of Frontline by 40.6% in the fourth quarter. Cipher Capital LP now owns 379,547 shares of the shipping company’s stock valued at $2,698,000 after buying an additional 109,680 shares during the last quarter. State Street Corp boosted its stake in shares of Frontline by 7.4% in the fourth quarter. State Street Corp now owns 990,048 shares of the shipping company’s stock valued at $7,041,000 after buying an additional 68,224 shares during the last quarter. Evermore Global Advisors LLC purchased a new stake in shares of Frontline during the fourth quarter valued at $10,097,000. Finally, Guggenheim Capital LLC boosted its stake in shares of Frontline by 60.2% in the fourth quarter. Guggenheim Capital LLC now owns 191,525 shares of the shipping company’s stock valued at $1,362,000 after buying an additional 71,997 shares during the last quarter. 8.80% of the stock is currently owned by institutional investors. About Frontline

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