Trading Report: Today: Frontline Ltd. (FRO) to Release Earnings on Tuesday

Today: Frontline Ltd. (FRO) to Release Earnings on Tuesday

Frontline Ltd. (NYSE:FRO) is scheduled to issue its Q316 quarterly earnings data on Tuesday, November 29th. Analysts expect the company to announce earnings of $0.05 per share and revenue of $119.38 million for the quarter.

Frontline Ltd. (NYSE:FRO) opened at 7.57 on Monday. The company has a market cap of $1.18 billion, a PE ratio of 4.96 and a beta of 2.55. The firm’s 50 day moving average is $7.49 and its 200 day moving average is $7.82. Frontline Ltd. has a 52-week low of $6.80 and a 52-week high of $16.40.

Several brokerages recently issued reports on FRO. Zacks Investment Research upgraded shares of Frontline from a “sell” rating to a “hold” rating in a research report on Thursday, October 27th. Wells Fargo & Co. reiterated a “hold” rating on shares of Frontline in a research report on Tuesday, September 27th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $7.00 price target (down previously from $10.00) on shares of Frontline in a research report on Friday, August 26th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Frontline presently has an average rating of “Hold” and an average price target of $9.88.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Fund Advisors increased its position in shares of Frontline by 10.0% in the third quarter. BlackRock Fund Advisors now owns 1,653,599 shares of the company’s stock valued at $11,856,000 after buying an additional 149,789 shares in the last quarter. State Street Corp increased its position in shares of Frontline by 18.3% in the second quarter. State Street Corp now owns 818,534 shares of the company’s stock valued at $6,441,000 after buying an additional 126,845 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Frontline by 39.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 668,189 shares of the company’s stock valued at $5,259,000 after buying an additional 189,201 shares in the last quarter. Northern Trust Corp increased its position in shares of Frontline by 0.3% in the third quarter. Northern Trust Corp now owns 537,577 shares of the company’s stock valued at $3,854,000 after buying an additional 1,716 shares in the last quarter. Finally, QVT Financial LP purchased a new position in shares of Frontline during the second quarter valued at about $3,202,000. Hedge funds and other institutional investors own 9.18% of the company’s stock.

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