The Brokers Set Expectations for Frontline Ltd.’s Q3 2016 Earnings (FRO)

The Brokers Set Expectations for Frontline Ltd.’s Q3 2016 Earnings (FRO)

Frontline Ltd. (NYSE:FRO) – Investment analysts at Seaport Global Securities decreased their Q3 2016 earnings per share estimates for shares of Frontline in a research note issued to investors on Tuesday. Seaport Global Securities analyst M. Fyhr now anticipates that the brokerage will earn ($0.03) per share for the quarter, down from their previous estimate of $0.02. Seaport Global Securities also issued estimates for Frontline’s Q4 2016 earnings at $0.01 EPS and FY2017 earnings at $0.72 EPS.

Frontline (NYSE:FRO) last posted its earnings results on Wednesday, August 31st. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.27 by $0.18. Frontline had a return on equity of 20.67% and a net margin of 31.41%.

Several other brokerages have also recently weighed in on FRO. Morgan Stanley reiterated an “equal weight” rating and set a $7.00 price target (down from $10.00) on shares of Frontline in a research report on Friday, August 26th. Clarkson Capital reiterated a “buy” rating on shares of Frontline in a research report on Friday, June 17th. Zacks Investment Research cut shares of Frontline from a “buy” rating to a “hold” rating in a research report on Tuesday, August 2nd. Finally, Wells Fargo & Co. reiterated a “hold” rating on shares of Frontline in a research report on Tuesday, September 27th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Frontline currently has an average rating of “Hold” and an average price target of $11.90.

Frontline (NYSE:FRO) traded down 2.037% during midday trading on Thursday, reaching $7.455. 563,384 shares of the company traded hands. Frontline has a one year low of $6.80 and a one year high of $17.05. The stock’s 50 day moving average is $7.41 and its 200 day moving average is $7.95. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 4.882 and a beta of 2.30.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC acquired a new position in Frontline during the third quarter worth approximately $108,000. BlackRock Inc. increased its stake in Frontline by 551.1% in the second quarter. BlackRock Inc. now owns 15,015 shares of the company’s stock worth $119,000 after buying an additional 12,709 shares during the last quarter. Capital Fund Management S.A. purchased a new stake in Frontline during the second quarter worth about $129,000. Strs Ohio increased its stake in Frontline by 38.6% in the second quarter. Strs Ohio now owns 21,600 shares of the company’s stock worth $169,000 after buying an additional 6,020 shares during the last quarter. Finally, BlackRock Advisors LLC increased its stake in Frontline by 44.5% in the second quarter. BlackRock Advisors LLC now owns 21,491 shares of the company’s stock worth $169,000 after buying an additional 6,621 shares during the last quarter. 9.12% of the stock is currently owned by institutional investors and hedge funds.

The company also recently announced a quarterly dividend, which was paid on Monday, September 19th. Shareholders of record on Monday, September 12th were given a $0.20 dividend. The ex-dividend date was Thursday, September 8th. This represents a $0.80 annualized dividend and a yield of 10.51%.

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