Frontline (FRO) Set to Announce Earnings on Tuesday

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

Frontline (NYSE:FRO – Get 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.

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