Frontline Ltd. (FRO) Stock Price Up 5.4%
Frontline Ltd. (NYSE:FRO) shares rose 5.4% during trading on Tuesday . The stock traded as high as $7.65 and last traded at $7.62, with a volume of 816,311 shares changing hands. The stock had previously closed at $7.23.
FRO has been the topic of several research reports. Zacks Investment Research lowered Frontline from a “hold” rating to a “strong sell” rating in a research report on Monday, August 22nd. Morgan Stanley reissued an “equal weight” rating and issued a $7.00 price objective (down from $10.00) on shares of Frontline in a research report on Friday, August 26th. Clarkson Capital reaffirmed a “buy” rating on shares of Frontline in a research report on Friday, June 17th. Finally, Credit Suisse Group AG reaffirmed a “hold” rating on shares of Frontline in a research report on Tuesday, May 31st. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Frontline currently has a consensus rating of “Hold” and a consensus price target of $11.90.
The stock has a market capitalization of $1.18 billion and a price-to-earnings ratio of 4.94. The company has a 50-day moving average price of $8.04 and a 200-day moving average price of $8.27.
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Frontline (NYSE:FRO) last released its quarterly earnings data on Wednesday, August 31st. The company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.27 by $0.18. Analysts anticipate that Frontline Ltd. will post $1.14 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 19th. Shareholders of record on Monday, September 12th will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $0.80 dividend on an annualized basis and a yield of 10.60%.
Frontline Ltd. is a shipping company. The Company is engaged in the seaborne transportation of crude oil and oil products. The Company operates through the tankers segment. The tankers segment includes crude oil tankers and product tankers. The Company operates through subsidiaries and partnerships located in Bermuda, India, the Philippines, Liberia, Norway, the United Kingdom and Singapore.
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