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

Posted by on Jun 5th, 2022

Equities analysts expect that Frontline Ltd. (NYSE:FRO – Get 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:FRO – Get 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.

Further Reading

Get a free copy of the Zacks research report on Frontline (FRO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Want More Great Investing Ideas?

Receive News & Ratings for Frontline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Frontline and related companies with MarketBeat.com's FREE daily email newsletter.