Trading Report: The Seaport Global Securities Weighs in on Frontline Ltd.’s Q1 2017 Earnings (FRO)

The Seaport Global Securities Weighs in on Frontline Ltd.’s Q1 2017 Earnings (FRO)

Frontline Ltd. (NYSE:FRO) – Seaport Global Securities reduced their Q1 2017 earnings per share (EPS) estimates for shares of Frontline in a research note issued on Tuesday. Seaport Global Securities analyst M. Fyhr now anticipates that the firm will post earnings of $0.15 per share for the quarter, down from their previous estimate of $0.22. Seaport Global Securities also issued estimates for Frontline’s Q2 2017 earnings at $0.18 EPS, Q3 2017 earnings at $0.19 EPS and Q4 2017 earnings at $0.20 EPS.

A number of other equities analysts have also commented on FRO. Zacks Investment Research raised shares of Frontline from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a research report on Wednesday, July 6th. Clarkson Capital restated a “buy” rating on shares of Frontline in a research note on Friday, June 17th. Wells Fargo & Co. restated a “hold” rating on shares of Frontline in a research note on Tuesday, September 27th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $7.00 price objective (down previously from $10.00) on shares of Frontline in a research note on Friday, August 26th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Frontline presently has an average rating of “Hold” and an average target price of $11.90.

Frontline (NYSE:FRO) traded down 3.105% during mid-day trading on Wednesday, hitting $7.645. 413,503 shares of the company were exchanged. The stock’s 50 day moving average is $7.44 and its 200-day moving average is $7.95. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 5.007 and a beta of 2.30. Frontline has a 12-month low of $6.80 and a 12-month high of $17.05.

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. Frontline had a return on equity of 20.67% and a net margin of 31.41%.

The firm also recently declared a quarterly dividend, which was paid on Monday, September 19th. Shareholders of record on Monday, September 12th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, September 8th. This represents a $0.80 dividend on an annualized basis and a yield of 10.14%.

Large investors have recently bought and sold shares of the company. 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 in the last quarter. Capital Fund Management S.A. acquired a new stake in Frontline during the second quarter worth $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 in the last quarter. 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 in the last quarter. Finally, Emerald Acquisition Ltd. acquired a new stake in Frontline during the second quarter worth $178,000. Hedge funds and other institutional investors own 9.12% of the company’s stock.

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