Frontline (FRO) Set to Announce Earnings on Tuesday

Frontline (NYSE:FROGet Rating) is set to release its earnings data before the market opens on Tuesday, May 24th.

Frontline (NYSE:FROGet Rating) last issued 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). Frontline had a negative net margin of 1.49% and a negative return on equity of 3.40%. The business had revenue of $213.50 million during the quarter, compared to analysts’ expectations of $108.70 million. During the same period in the prior year, the business posted ($0.10) EPS. The business’s revenue was up 112.2% on a year-over-year basis. On average, analysts expect Frontline to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Shares of FRO stock opened at $8.74 on Monday. The company’s fifty day simple moving average is $8.67 and its 200-day simple moving average is $7.93. Frontline has a 52 week low of $6.10 and a 52 week high of $10.43. The company has a current ratio of 1.14, a quick ratio of 0.86 and a debt-to-equity ratio of 1.31. The company has a market cap of $1.78 billion, a PE ratio of -174.80 and a beta of 0.10.

Hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC acquired a new position in Frontline during the 4th quarter worth $80,000. Cetera Investment Advisers grew its holdings in Frontline by 14.5% during the 4th quarter. Cetera Investment Advisers now owns 11,703 shares of the shipping company’s stock worth $83,000 after acquiring an additional 1,479 shares in the last quarter. Ergoteles LLC acquired a new position in Frontline during the 1st quarter worth $112,000. Cubist Systematic Strategies LLC acquired a new position in Frontline during the 4th quarter worth $125,000. Finally, Toroso Investments LLC grew its holdings in Frontline by 5.0% during the 4th quarter. Toroso Investments LLC now owns 27,334 shares of the shipping company’s stock worth $193,000 after acquiring an additional 1,311 shares in the last quarter. 20.33% of the stock is owned by institutional investors.

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

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.

See Also

Earnings History for Frontline (NYSE:FRO)

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