$103.31 Million in Sales Expected for Frontline Ltd. (NYSE:FRO) This Quarter

Wall Street brokerages forecast that Frontline Ltd. (NYSE:FRO – Get Rating) will report sales of $103.31 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Frontline’s earnings. The highest sales estimate is $104.51 million and the lowest is $102.10 million. Frontline posted sales of $107.11 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 3.5%. The business is expected to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Frontline will report full-year sales of $566.64 million for the current year, with estimates ranging from $553.27 million to $580.00 million. For the next financial year, analysts expect that the firm will post sales of $714.38 million, with estimates ranging from $712.76 million to $716.00 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Frontline.

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

FRO has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on Frontline in a report on Thursday, March 31st. They set a “sell” rating for the company. Jefferies Financial Group started coverage on Frontline in a report on Wednesday, April 27th. They issued a “hold” rating for the company. HC Wainwright boosted their target price on Frontline from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, April 8th. Finally, Zacks Investment Research downgraded Frontline from a “buy” rating to a “hold” rating in a report on Wednesday, May 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $9.24.

Shares of NYSE FRO opened at $8.58 on Tuesday. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of -171.60 and a beta of 0.10. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.14 and a quick ratio of 0.86. The business has a 50-day moving average of $8.66 and a two-hundred day moving average of $7.94. Frontline has a 1 year low of $6.10 and a 1 year high of $10.43.

Institutional investors and hedge funds have recently bought and sold shares of the business. Beacon Capital Management Inc. purchased a new stake in Frontline during the 1st quarter valued at approximately $25,000. Counterpoint Mutual Funds LLC purchased a new stake in Frontline during the 4th quarter valued at approximately $27,000. Renaissance Technologies LLC purchased a new stake in Frontline during the 4th quarter valued at approximately $80,000. Cetera Investment Advisers raised its stake in Frontline by 14.5% during the 4th quarter. Cetera Investment Advisers now owns 11,703 shares of the shipping company’s stock valued at $83,000 after acquiring an additional 1,479 shares during the last quarter. Finally, Qube Research & Technologies Ltd purchased a new stake in Frontline during the 1st quarter valued at approximately $93,000. 20.33% of the stock is owned by hedge funds and other institutional investors.

Frontline Company Profile (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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