Streetbeat News

FRO

Frontline Ltd.

https://www.frontline.bm

Industry

Oil & Gas Midstream

Frontline Ltd., 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, 2021, 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 Hamilton, Bermuda.

Open

19.72

Mkt cap

4.5B

Volume

High

20.21

P/E Ratio

7.56

52-wk high

29.39

Low

19.61

Div yield

0.09

52-wk low

18.26

Frontline Plc (NYSE:FRO) reported a significant increase in Q2 revenue, surpassing expectations, but experienced a decline in EPS. The company is optimizing its fleet by selling older assets and refinancing tankers. Despite a challenging market, Frontline declared a dividend and anticipates increased oil demand in the latter half of 2024.

Portfolio Pulse from Lekha Gupta

August 30, 2024 | 11:11 am

Frontline reported Q2 2024 earnings per share of $0.62, missing the $0.67 estimate, but sales of $607.513M beat the $382.322M estimate. EPS decreased by 34.04% from last year, while sales increased by 16.35%.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2024 | 6:46 am

The Dow Jones reached a new record close, while the Nasdaq fell due to a decline in Nvidia shares. Nvidia's stock dropped 6.4% despite strong earnings and a $50 billion stock repurchase plan, due to a contraction in gross margin. The CNN Money Fear and Greed index moved into the 'Greed' zone, indicating improved market sentiment.

Portfolio Pulse from Avi Kapoor

August 30, 2024 | 6:25 am

Frontline plc (NYSE:FRO) is expected to report a decline in earnings and revenue for Q2, with analysts predicting earnings of 67 cents per share and revenue of $382.32 million. Despite a previous revenue beat in Q4 2023, analyst ratings vary, with some maintaining buy ratings and others adjusting price targets.

Portfolio Pulse from Avi Kapoor

August 30, 2024 | 6:14 am

Evercore ISI Group analyst Jonathan Chappell maintains an Outperform rating on Frontline (NYSE:FRO) but lowers the price target from $33 to $32.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 4:31 pm

Several gas and oil companies are trading lower possibly due to a drop in the price of crude.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2024 | 6:43 pm

Jefferies analyst Omar Nokta maintains a Buy rating on Frontline (NYSE:FRO) with a $30 price target.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 12:43 pm

Enliven Therapeutics announced positive Phase 1 trial data for ELVN-001, causing a 26% surge in its stock. Alpine Immune Sciences saw a 36.6% jump after an acquisition agreement with Vertex. Janux Therapeutics' shares rose 16.8% amid sale considerations. Other notable movers include Rallybio Corporation with an 89.6% gain following a collaboration with Johnson & Johnson, and AnaptysBio, which rose 11.4% after an Overweight rating from Wells Fargo.

Portfolio Pulse from Avi Kapoor

April 11, 2024 | 2:01 pm

Frontline (NYSE:FRO) received mixed analyst ratings over the past three months, with a shift towards a more bullish outlook in the last 30 days. The average 12-month price target for FRO has been raised to $24.66, indicating a positive sentiment shift. Analyst actions include both upgrades and downgrades, with notable adjustments to price targets. Frontline, an international shipping company, faces challenges with a decline in revenue growth and below-average ROE, but excels in net margin and ROA, showcasing strong profitability and financial health.

Portfolio Pulse from Benzinga Insights

March 21, 2024 | 7:00 pm

Frontline shares surged following an upgrade by Jefferies from Hold to Buy, with a price target increase from $22 to $30.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 10:58 am

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