Equities analysts forecast that Frontline Ltd (NYSE:FRO) will announce sales of $105.10 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Frontline’s earnings, with estimates ranging from $103.90 million to $106.30 million. Frontline posted sales of $72.36 million during the same quarter last year, which would suggest a positive year over year growth rate of 45.2%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, August 28th.
On average, analysts expect that Frontline will report full-year sales of $470.53 million for the current fiscal year, with estimates ranging from $432.63 million to $508.85 million. For the next financial year, analysts anticipate that the business will report sales of $623.72 million, with estimates ranging from $581.75 million to $673.30 million. Zacks’ sales averages are a mean average based on a survey of research analysts that that provide coverage for Frontline.
Frontline (NYSE:FRO) last issued its quarterly earnings data on Thursday, May 16th. The shipping company reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.03. Frontline had a net margin of 5.52% and a return on equity of 3.08%. The business had revenue of $140.76 million during the quarter, compared to analysts’ expectations of $148.24 million. During the same period in the previous year, the company earned ($0.08) earnings per share.
FRO has been the topic of a number of research reports. Zacks Investment Research lowered shares of Frontline from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Morgan Stanley set a $8.00 target price on shares of Frontline and gave the stock a “hold” rating in a research report on Friday, May 17th. Finally, ValuEngine raised shares of Frontline from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $7.13.
FRO stock traded up $0.34 on Friday, reaching $8.16. 48,615 shares of the company were exchanged, compared to its average volume of 796,630. Frontline has a 12 month low of $4.46 and a 12 month high of $9.54. The company has a fifty day simple moving average of $8.13. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of -58.93, a PEG ratio of 3.77 and a beta of 1.17. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.40.
A number of institutional investors have recently made changes to their positions in the business. Virtu Financial LLC grew its holdings in shares of Frontline by 16.4% in the 1st quarter. Virtu Financial LLC now owns 17,047 shares of the shipping company’s stock worth $110,000 after purchasing an additional 2,403 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Frontline by 1.6% in the 4th quarter. Bank of New York Mellon Corp now owns 262,884 shares of the shipping company’s stock worth $1,454,000 after purchasing an additional 4,172 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Frontline by 3.9% in the 3rd quarter. Vanguard Group Inc. now owns 239,796 shares of the shipping company’s stock worth $1,394,000 after purchasing an additional 9,062 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Frontline by 37.8% in the 4th quarter. Legal & General Group Plc now owns 36,048 shares of the shipping company’s stock worth $200,000 after purchasing an additional 9,886 shares during the last quarter. Finally, Bienville Capital Management LLC bought a new stake in shares of Frontline in the 1st quarter worth about $65,000. 18.82% of the stock is currently owned by hedge funds and other institutional investors.
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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