Frontline (NYSE:FRO) issued its quarterly earnings results on Tuesday. The shipping company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02, Briefing.com reports. Frontline had a return on equity of 3.08% and a net margin of 5.52%. During the same period in the previous year, the company earned ($0.16) earnings per share.
NYSE FRO traded down $0.24 on Tuesday, hitting $7.95. 259,803 shares of the company’s stock were exchanged, compared to its average volume of 566,627. The stock has a 50-day moving average of $7.63 and a 200-day moving average of $7.41. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.40. Frontline has a 52 week low of $4.82 and a 52 week high of $9.54. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of -56.75, a P/E/G ratio of 3.96 and a beta of 1.02.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FRO. Mackenzie Financial Corp bought a new position in shares of Frontline during the 2nd quarter worth about $89,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Frontline during the 2nd quarter worth about $86,000. Jane Street Group LLC boosted its position in shares of Frontline by 181.6% during the 2nd quarter. Jane Street Group LLC now owns 308,902 shares of the shipping company’s stock worth $2,505,000 after purchasing an additional 199,214 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its position in shares of Frontline by 420.6% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 554,841 shares of the shipping company’s stock worth $4,439,000 after purchasing an additional 448,255 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in shares of Frontline during the 2nd quarter worth about $98,000. Hedge funds and other institutional investors own 17.01% of the company’s stock.
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, 2018, the company's fleet consisted of 61 vessels, which included very large crude carrier, Suezmax, and LR2/Aframax tankers with an aggregate capacity of approximately 11.6 million deadweight ton.
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