Frontline Ltd. (NYSE:FRO) Expected to Post Earnings of -$0.15 Per Share

Equities research analysts expect Frontline Ltd. (NYSE:FRO) to post earnings of ($0.15) per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Frontline’s earnings. Frontline posted earnings of $0.29 per share in the same quarter last year, which suggests a negative year over year growth rate of 151.7%. The firm is expected to announce its next earnings results on Wednesday, November 24th.

According to Zacks, analysts expect that Frontline will report full-year earnings of ($0.02) per share for the current fiscal year, with EPS estimates ranging from ($0.13) to $0.06. For the next financial year, analysts anticipate that the company will report earnings of $1.28 per share, with EPS estimates ranging from $1.27 to $1.30. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Frontline.

Frontline (NYSE:FRO) last announced its quarterly earnings data on Wednesday, August 25th. The shipping company reported ($0.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.02). Frontline had a net margin of 6.38% and a return on equity of 1.34%. The company had revenue of $170.00 million for the quarter, compared to analysts’ expectations of $94.98 million. During the same period in the prior year, the firm earned $1.04 earnings per share.

FRO has been the subject of several research reports. Zacks Investment Research raised shares of Frontline from a “sell” rating to a “hold” rating in a research note on Wednesday, June 2nd. Evercore ISI restated a “buy” rating on shares of Frontline in a report on Sunday, August 29th. Finally, Danske upgraded shares of Frontline from a “hold” rating to a “buy” rating and set a $9.70 target price on the stock in a report on Wednesday, June 30th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Frontline currently has a consensus rating of “Hold” and a consensus price target of $8.18.

Several institutional investors have recently modified their holdings of FRO. Advisory Services Network LLC acquired a new stake in shares of Frontline in the 2nd quarter valued at about $71,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Frontline during the 1st quarter valued at about $80,000. Principal Financial Group Inc. bought a new stake in shares of Frontline during the 1st quarter valued at about $87,000. Fox Run Management L.L.C. bought a new stake in shares of Frontline during the 1st quarter valued at about $92,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Frontline during the 1st quarter valued at about $108,000. Institutional investors and hedge funds own 21.56% of the company’s stock.

Shares of NYSE FRO traded up $0.02 during trading on Thursday, hitting $7.93. 1,916,939 shares of the company traded hands, compared to its average volume of 1,724,498. Frontline has a 1 year low of $5.28 and a 1 year high of $9.21. The company has a 50-day moving average price of $7.75 and a 200-day moving average price of $7.88. The firm has a market capitalization of $1.57 billion, a P/E ratio of 30.50 and a beta of 0.33. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.20.

Frontline Company Profile

Frontline Ltd. is an international shipping company, which engages in the ownership and operation of oil and product tankers. It also offers the seaborne transportation of crude oil and oil products. The company was founded in 1985 and is headquartered in Hamilton, Bermuda.

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