Zacks: Analysts Anticipate Frontline Ltd. (NYSE:FRO) to Announce -$0.01 Earnings Per Share

Brokerages forecast that Frontline Ltd. (NYSE:FRO – Get Rating) will post ($0.01) earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Frontline’s earnings, with the highest EPS estimate coming in at $0.01 and the lowest estimate coming in at ($0.02). Frontline reported earnings of $0.04 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 125%. The business is expected to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Frontline will report full year earnings of $0.72 per share for the current fiscal year, with EPS estimates ranging from $0.69 to $0.75. For the next year, analysts anticipate that the firm will post earnings of $1.39 per share, with EPS estimates ranging from $1.15 to $1.73. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Frontline.

Frontline (NYSE:FRO – Get Rating) last released its earnings results on Thursday, February 17th. The shipping company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). The firm had revenue of $213.50 million during the quarter, compared to the consensus estimate of $108.70 million. Frontline had a negative net margin of 1.49% and a negative return on equity of 3.40%. The firm’s revenue was up 112.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.10) EPS.

A number of research analysts have recently issued reports on FRO shares. StockNews.com started coverage on Frontline in a research note on Thursday, March 31st. They set a “sell” rating on the stock. HC Wainwright raised their price objective on Frontline from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, April 8th. Jefferies Financial Group started coverage on Frontline in a research note on Wednesday, April 27th. They set a “hold” rating on the stock. Finally, Zacks Investment Research cut Frontline from a “buy” rating to a “hold” rating in a research note on Wednesday, May 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Frontline presently has a consensus rating of “Hold” and a consensus target price of $9.24.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Toroso Investments LLC lifted its holdings in Frontline by 5.0% in the fourth quarter. Toroso Investments LLC now owns 27,334 shares of the shipping company’s stock worth $193,000 after buying an additional 1,311 shares during the period. Cetera Investment Advisers lifted its holdings in Frontline by 14.5% in the fourth quarter. Cetera Investment Advisers now owns 11,703 shares of the shipping company’s stock worth $83,000 after buying an additional 1,479 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in Frontline by 7.1% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 37,344 shares of the shipping company’s stock worth $264,000 after buying an additional 2,490 shares during the period. Beacon Capital Management Inc. purchased a new stake in Frontline in the first quarter worth about $25,000. Finally, Morgan Stanley increased its stake in shares of Frontline by 1.0% during the third quarter. Morgan Stanley now owns 328,359 shares of the shipping company’s stock valued at $3,076,000 after purchasing an additional 3,401 shares in the last quarter. Institutional investors and hedge funds own 20.33% of the company’s stock.

FRO opened at $7.99 on Friday. The stock has a market cap of $1.63 billion, a PE ratio of -159.80 and a beta of 0.10. The company has a quick ratio of 0.86, a current ratio of 1.14 and a debt-to-equity ratio of 1.31. Frontline has a 52 week low of $6.10 and a 52 week high of $10.43. The business’s fifty day simple moving average is $8.68 and its 200 day simple moving average is $7.95.

About Frontline (Get Rating)

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, 2021, 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 Hamilton, Bermuda.

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