Frontline (FRO) Scheduled to Post Quarterly Earnings on Friday

Frontline (NYSE:FRO) is scheduled to be issuing its quarterly earnings data before the market opens on Friday, November 29th. Analysts expect the company to announce earnings of $0.39 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Frontline (NYSE:FRO) last announced its quarterly earnings results on Friday, August 30th. The shipping company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.03). Frontline had a net margin of 29.42% and a return on equity of 19.73%. The company had revenue of $409.72 million during the quarter, compared to the consensus estimate of $383.88 million. During the same quarter last year, the company earned $0.94 earnings per share. On average, analysts expect Frontline to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Frontline Stock Performance

FRO stock opened at $18.07 on Wednesday. The company has a 50 day moving average price of $21.41 and a 200 day moving average price of $23.68. The stock has a market capitalization of $4.02 billion, a PE ratio of 6.79 and a beta of 0.06. Frontline has a fifty-two week low of $18.02 and a fifty-two week high of $29.39. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.38 and a quick ratio of 1.38.

Frontline Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 13.73%. The ex-dividend date of this dividend was Friday, September 13th. Frontline’s dividend payout ratio (DPR) is currently 93.23%.

Wall Street Analysts Forecast Growth

FRO has been the topic of a number of recent research reports. StockNews.com raised Frontline to a “sell” rating in a research report on Thursday, September 5th. Jefferies Financial Group reduced their price target on Frontline from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. BTIG Research upgraded Frontline from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Monday, October 7th. Finally, Fearnley Fonds upgraded Frontline to a “strong-buy” rating in a research report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Frontline presently has an average rating of “Moderate Buy” and a consensus target price of $27.26.

About Frontline

Frontline plc, 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, 2022, the company operated a fleet of 70 vessels. It is also involved in the charter, purchase, and sale of vessels. The company was founded in 1985 and is based in Limassol, Cyprus.