Frontline (NYSE:FRO) Downgraded to Strong Sell Rating by Kepler Capital Markets

Frontline (NYSE:FRO - Get Free Report) was downgraded by 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 cut their price objective on shares of Frontline from $26.00 to $20.00 and set a "buy" rating for the company in a research report on Tuesday, December 17th. Two equities research 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 company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.46.

Frontline Stock Performance

Shares of FRO traded down $0.29 during mid-day trading on Thursday, hitting $14.74. 985,796 shares of the company's stock were exchanged, compared to its average volume of 3,413,209. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 1.44. Frontline has a 52 week low of $13.17 and a 52 week high of $29.39. The stock's 50-day simple moving average is $16.52 and its 200-day simple moving average is $17.98. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of 6.02 and a beta of 0.20.

Frontline (NYSE:FRO - Get Free Report) last posted its quarterly earnings data on Friday, February 28th. The shipping company reported $0.20 EPS for the quarter, hitting analysts' consensus estimates of $0.20. The firm had revenue of $425.60 million for 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 company's revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the company earned $0.46 EPS. On average, equities research analysts expect that Frontline will post 1.78 EPS for the current year.

Remove Ads

Institutional Trading of Frontline

Several large investors have recently bought and sold shares of the business. Jones Financial Companies Lllp bought a new position in shares of Frontline in the fourth quarter worth about $31,000. Golden State Wealth Management LLC acquired a new position in Frontline during the 4th quarter worth approximately $84,000. National Bank of Canada FI lifted its stake in Frontline by 331.8% in 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 during the last quarter. Blue Trust Inc. boosted its position in Frontline by 84.4% in the fourth quarter. Blue Trust Inc. now owns 8,921 shares of the shipping company's stock valued at $127,000 after buying an additional 4,084 shares in the last quarter. Finally, Vestcor Inc bought a new stake in shares of Frontline during the third quarter worth $255,000. 22.70% of the stock is owned by institutional investors and hedge funds.

Frontline Company Profile

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.