Zacks: Analysts Anticipate Frontline Ltd. (NYSE:FRO) Will Post Earnings of $0.33 Per Share

Equities analysts expect that Frontline Ltd. (NYSE:FROGet Rating) will post earnings per share of $0.33 for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Frontline’s earnings, with estimates ranging from $0.32 to $0.34. Frontline reported earnings of ($0.12) per share during the same quarter last year, which indicates a positive year over year growth rate of 375%. The business is expected to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Frontline will report full year earnings of $0.86 per share for the current financial year, with EPS estimates ranging from $0.75 to $0.97. For the next year, analysts anticipate that the business will post earnings of $1.41 per share, with EPS estimates ranging from $1.15 to $1.73. Zacks’ EPS calculations are an average based on a survey of research firms that cover Frontline.

Frontline (NYSE:FROGet Rating) last issued its earnings results on Tuesday, May 24th. The shipping company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). Frontline had a negative return on equity of 4.01% and a negative net margin of 1.15%. During the same period last year, the business posted $0.04 earnings per share.

A number of research analysts recently issued reports on FRO shares. StockNews.com started coverage on Frontline in a research report on Thursday, March 31st. They set a “sell” rating for the company. Zacks Investment Research lowered Frontline from a “buy” rating to a “hold” rating in a research report on Friday, May 27th. Jefferies Financial Group initiated coverage on Frontline in a research report on Wednesday, April 27th. They set a “hold” rating for the company. Finally, HC Wainwright lifted their target price on Frontline from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Wednesday, May 25th. 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 company’s stock. Based on data from MarketBeat.com, Frontline has an average rating of “Hold” and a consensus target price of $9.93.

Institutional investors have recently made changes to their positions in the business. Beacon Capital Management Inc. bought a new stake in shares of Frontline in the 1st quarter worth $25,000. Counterpoint Mutual Funds LLC bought a new stake in shares of Frontline in the 4th quarter worth $27,000. Renaissance Technologies LLC bought a new stake in shares of Frontline in the 4th quarter worth $80,000. Cetera Investment Advisers raised its stake in shares of Frontline by 14.5% in the 4th 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 in the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in shares of Frontline in the 1st quarter worth $93,000. 20.33% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:FRO opened at $10.40 on Friday. Frontline has a 12-month low of $6.10 and a 12-month high of $11.57. The firm has a market capitalization of $2.12 billion, a P/E ratio of -208.00 and a beta of 0.09. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.66 and a quick ratio of 0.66. The business has a 50 day simple moving average of $9.03 and a 200 day simple moving average of $8.08.

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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