Dallas, Texas 03/26/2014 (FINANCIALSTRENDS) – Deutsche Bank has upgraded Frontline Ltd (NYSE:FRO) shares from a rating of “sell” to a “hold” rating in the report that was released to investors. Recently, other equities- research analysts had also issued their reports about this stock. Nordea Equity Research analysts have upgraded Frontline Ltd (NYSE:FRO) shares from a “strong sell” to a “sell” rating in the research note to nvestors. Analysts at the DNB Markets firm upgraded Frontline Ltd (NYSE:FRO) shares from a “sell” to a “hold” rating in the research note on 23 January. Three investment-analysts have rated Frontline Ltd (NYSE:FRO) stock with a “sell” rating & 5 have assigned a “hold” rating to Frontline Ltd (NYSE:FRO) stock. Currently, the average rating on Frontline Ltd (NYSE:FRO) is a “Hold” and the average price target is $1.96.
Frontline (NYSE:FRO) last issued the company’s quarterly-earnings data on 27 February . It reported earnings per share of $0.15 for the quarter, which beat the average analyst projection of $0.19 by $0.04. In the same quarter of the previous year, Frontline Ltd (NYSE:FRO) posted earnings per share of $0.21. On an average, analysts project that Frontline Ltd (NYSE:FRO) will post earnings per share of $-1.33 for the current financial year. Frontline Ltd (NYSE:FRO) is a tanker company based in Bermuda.
A major segment of Frontline Ltd (NYSE:FRO)’s vessels specifically trade in the spot-market. The spot-market rates are much higher than the time-charter rates to compensate for lack of the confirmed-continual employment. After delivering their cargo, the spot market vessels generally operate in ballast (without the cargo) until they are rechartered. It is this time element that is associated with the ballast legs that Frontline Ltd (NYSE:FRO) seeks to minimize by very efficiently chartering the tankers. Frontline Ltd (NYSE:FRO) seeks to maximise its earnings by employing vessels in the spot- market or under the time charters or even under the contracts of affreightment.
