Analysts expect Frontline Ltd (NYSE:FRO) to post $79.90 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Frontline’s earnings. The highest sales estimate is $82.80 million and the lowest is $75.60 million. Frontline posted sales of $75.86 million during the same quarter last year, which suggests a positive year over year growth rate of 5.3%. The company is scheduled to report its next earnings results on Wednesday, November 28th.
On average, analysts expect that Frontline will report full year sales of $331.74 million for the current financial year, with estimates ranging from $315.10 million to $342.33 million. For the next fiscal year, analysts anticipate that the business will post sales of $431.85 million, with estimates ranging from $385.40 million to $460.66 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Frontline.
Frontline (NYSE:FRO) last announced its earnings results on Wednesday, August 22nd. The shipping company reported ($0.16) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.05. The firm had revenue of $166.82 million during the quarter, compared to analysts’ expectations of $62.63 million. Frontline had a negative return on equity of 4.83% and a negative net margin of 47.14%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis.
A number of brokerages have recently commented on FRO. ValuEngine upgraded Frontline from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. Jefferies Financial Group began coverage on Frontline in a report on Monday, October 1st. They issued a “hold” rating and a $6.00 target price for the company. 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 price objective 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 given a buy rating to the company’s stock. Frontline presently has an average rating of “Hold” and a consensus price target of $6.00.
Several hedge funds have recently modified their holdings of FRO. Russell Investments Group Ltd. purchased a new stake in shares of Frontline in the 1st quarter worth $1,120,000. UBS Group AG lifted its holdings in shares of Frontline by 297.5% in the 1st quarter. UBS Group AG now owns 59,652 shares of the shipping company’s stock worth $264,000 after buying an additional 44,645 shares during the period. Creative Planning lifted its holdings in shares of Frontline by 37.4% in the 2nd quarter. Creative Planning now owns 63,300 shares of the shipping company’s stock worth $370,000 after buying an additional 17,240 shares during the period. Folketrygdfondet lifted its holdings in shares of Frontline by 54.8% in the 2nd quarter. Folketrygdfondet now owns 5,353,442 shares of the shipping company’s stock worth $31,264,000 after buying an additional 1,894,446 shares during the period. Finally, Segantii Capital Management Ltd purchased a new stake in shares of Frontline in the 2nd quarter worth $143,000. Institutional investors and hedge funds own 17.22% of the company’s stock.
Shares of Frontline stock traded down $0.07 on Monday, reaching $6.72. The company had a trading volume of 333,705 shares, compared to its average volume of 478,861. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of -224.00 and a beta of 0.97. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.34 and a current ratio of 1.34. Frontline has a 1 year low of $3.79 and a 1 year high of $7.49.
Frontline Company Profile
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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