Frontline Ltd (FRO) Expected to Post Earnings of -$0.13 Per Share

Wall Street analysts forecast that Frontline Ltd (NYSE:FRO) will announce ($0.13) earnings per share for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Frontline’s earnings, with estimates ranging from ($0.19) to ($0.09). Frontline reported earnings per share of ($0.14) during the same quarter last year, which indicates a positive year-over-year growth rate of 7.1%. The business is scheduled to issue its next earnings report on Wednesday, November 28th.

According to Zacks, analysts expect that Frontline will report full year earnings of ($0.35) per share for the current financial year, with EPS estimates ranging from ($0.49) to ($0.23). For the next fiscal year, analysts anticipate that the business will post earnings of $0.17 per share, with EPS estimates ranging from ($0.13) to $0.34. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Frontline.

Frontline (NYSE:FRO) last posted its earnings results on Wednesday, August 22nd. The shipping company reported ($0.16) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.05. Frontline had a negative return on equity of 4.83% and a negative net margin of 47.14%. The business had revenue of $166.82 million during the quarter, compared to the consensus estimate of $62.63 million. Frontline’s revenue was up 11.1% compared to the same quarter last year.

FRO has been the subject of several research reports. Jefferies Financial Group initiated coverage on Frontline in a report on Monday, October 1st. They issued a “hold” rating and a $6.00 target price for the company. ValuEngine raised Frontline from a “sell” rating to a “hold” rating in a report on Thursday, August 30th. BTIG Research initiated coverage on Frontline in a report on Thursday, September 27th. They issued a “neutral” rating for the company. Finally, Deutsche Bank boosted their target price on Frontline from $5.00 to $6.00 and gave the company a “hold” rating in a report on Tuesday, August 28th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $6.00.

Shares of Frontline stock traded down $0.07 on Friday, hitting $6.72. The stock had a trading volume of 333,705 shares, compared to its average volume of 478,861. Frontline has a 52-week low of $3.79 and a 52-week high of $7.49. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market capitalization of $1.21 billion, a P/E ratio of -224.00 and a beta of 0.97.

Several institutional investors have recently bought and sold shares of FRO. Trexquant Investment LP acquired a new position in Frontline in the 3rd quarter valued at about $129,000. Segantii Capital Management Ltd acquired a new position in Frontline in the 2nd quarter valued at about $143,000. UBS Group AG increased its position in Frontline by 297.5% in the 1st quarter. UBS Group AG now owns 59,652 shares of the shipping company’s stock valued at $264,000 after acquiring an additional 44,645 shares during the period. Creative Planning increased its position in Frontline by 37.4% in the 2nd quarter. Creative Planning now owns 63,300 shares of the shipping company’s stock valued at $370,000 after acquiring an additional 17,240 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in Frontline in the 2nd quarter valued at about $486,000. 17.22% of the stock is owned by institutional investors and hedge funds.

About Frontline

Frontline Ltd., a shipping company, engages in the seaborne transportation of crude oil and oil products worldwide. As of December 31, 2017, the company's fleet consisted of 61 vessels, including VLCC, Suezmax, and LR2/Aframax tankers with an aggregate capacity of approximately 11.6 million deadweight ton.

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Earnings History and Estimates for Frontline (NYSE:FRO)

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