Wall Street analysts predict that Frontline Ltd (NYSE:FRO) will post sales of $124.00 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Frontline’s earnings, with the lowest sales estimate coming in at $115.60 million and the highest estimate coming in at $132.39 million. Frontline posted sales of $99.20 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 25%. The firm is scheduled to issue its next earnings results on Wednesday, February 27th.
On average, analysts expect that Frontline will report full year sales of $349.33 million for the current year, with estimates ranging from $337.80 million to $368.58 million. For the next year, analysts forecast that the company will report sales of $451.75 million, with estimates ranging from $446.00 million to $459.74 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Frontline.
Frontline (NYSE:FRO) last issued its quarterly earnings results on Friday, November 16th. The shipping company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.08. The company had revenue of $89.21 million during the quarter, compared to analyst estimates of $79.90 million. Frontline had a negative net margin of 40.17% and a negative return on equity of 3.87%. During the same period in the prior year, the business posted ($0.08) EPS.
A number of brokerages have recently weighed in on FRO. Zacks Investment Research raised shares of Frontline from a “hold” rating to a “buy” rating and set a $6.75 price target for the company in a research note on Tuesday, January 8th. ValuEngine raised shares of Frontline from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Deutsche Bank upped their price target on shares of Frontline from $6.00 to $7.00 and gave the stock a “hold” rating in a research note on Tuesday, December 4th. DNB Markets lowered shares of Frontline from a “buy” rating to a “hold” rating and set a $7.30 price target for the company. in a research note on Friday, November 30th. Finally, Wells Fargo & Co lowered shares of Frontline from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $7.00 to $5.50 in a research note on Thursday, January 10th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $6.43.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FRO. Evermore Global Advisors LLC raised its holdings in shares of Frontline by 3.3% during the third quarter. Evermore Global Advisors LLC now owns 5,687,632 shares of the shipping company’s stock valued at $33,045,000 after acquiring an additional 181,826 shares during the period. BlackRock Inc. raised its holdings in shares of Frontline by 3.7% during the second quarter. BlackRock Inc. now owns 3,596,852 shares of the shipping company’s stock valued at $21,005,000 after acquiring an additional 128,927 shares during the period. Northern Trust Corp raised its holdings in shares of Frontline by 3.7% during the second quarter. Northern Trust Corp now owns 2,441,655 shares of the shipping company’s stock valued at $14,260,000 after acquiring an additional 86,696 shares during the period. GSA Capital Partners LLP raised its holdings in shares of Frontline by 80.9% during the third quarter. GSA Capital Partners LLP now owns 150,513 shares of the shipping company’s stock valued at $874,000 after acquiring an additional 67,313 shares during the period. Finally, Man Group plc acquired a new stake in shares of Frontline during the third quarter valued at approximately $385,000. Institutional investors and hedge funds own 16.26% of the company’s stock.
Shares of NYSE:FRO traded down $0.12 during trading on Wednesday, reaching $4.90. The company had a trading volume of 308,466 shares, compared to its average volume of 353,150. The firm has a market cap of $832.02 million, a P/E ratio of -163.33 and a beta of 0.95. Frontline has a twelve month low of $3.79 and a twelve month high of $8.33. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.55.
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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