Wall Street brokerages forecast that Frontline Ltd (NYSE:FRO) will announce $124.00 million in sales for the current quarter, according to Zacks. Two analysts have provided 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 during the same quarter last year, which suggests a positive year-over-year growth rate of 25%. The business is scheduled to announce its next earnings report on Wednesday, February 27th.
According to Zacks, analysts expect that Frontline will report full year sales of $349.33 million for the current fiscal year, with estimates ranging from $337.80 million to $368.58 million. For the next financial year, analysts anticipate that the company will post 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 analysts that that provide coverage for Frontline.
Frontline (NYSE:FRO) last posted its quarterly earnings results on Friday, November 16th. The shipping company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.08. The business had revenue of $89.21 million during the quarter, compared to analysts’ expectations of $79.90 million. Frontline had a negative return on equity of 3.87% and a negative net margin of 40.17%. During the same period last year, the firm earned ($0.08) EPS.
FRO has been the subject of several recent analyst reports. Danske raised Frontline from a “sell” rating to a “buy” rating in a report on Thursday, November 15th. Morgan Stanley raised their price objective on Frontline from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Monday, November 19th. Zacks Investment Research raised Frontline from a “hold” rating to a “strong-buy” rating and set a $6.75 price objective for the company in a research note on Wednesday, November 21st. DNB Markets downgraded Frontline from a “buy” rating to a “hold” rating and set a $7.30 price objective for the company. in a research note on Friday, November 30th. Finally, Deutsche Bank raised their price objective on Frontline from $6.00 to $7.00 and gave the company a “hold” rating in a research note on Tuesday, December 4th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $6.43.
Institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new stake in shares of Frontline during the fourth quarter worth about $81,000. Paloma Partners Management Co bought a new stake in shares of Frontline in the third quarter valued at about $106,000. Macquarie Group Ltd. bought a new stake in shares of Frontline in the third quarter valued at about $114,000. Trexquant Investment LP bought a new stake in shares of Frontline in the third quarter valued at about $129,000. Finally, Panagora Asset Management Inc. lifted its stake in shares of Frontline by 38,407.0% in the third quarter. Panagora Asset Management Inc. now owns 38,507 shares of the shipping company’s stock valued at $224,000 after buying an additional 38,407 shares during the period. 16.28% of the stock is owned by institutional investors.
Shares of FRO traded up $0.13 during mid-day trading on Wednesday, hitting $5.03. The company’s stock had a trading volume of 422,960 shares, compared to its average volume of 374,404. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a market capitalization of $832.02 million, a P/E ratio of -167.67 and a beta of 0.95. Frontline has a 1-year low of $3.80 and a 1-year high of $8.33.
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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