Analysts Anticipate Frontline Ltd (FRO) Will Announce Quarterly Sales of $144.39 Million

Equities analysts expect Frontline Ltd (NYSE:FRO) to post sales of $144.39 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Frontline’s earnings, with estimates ranging from $133.10 million to $160.40 million. Frontline reported sales of $80.58 million in the same quarter last year, which would suggest a positive year over year growth rate of 79.2%. The company is scheduled to report its next earnings report on Thursday, May 30th.

According to Zacks, analysts expect that Frontline will report full year sales of $463.46 million for the current year, with estimates ranging from $403.19 million to $508.85 million. For the next year, analysts expect that the business will post sales of $606.06 million, with estimates ranging from $551.20 million to $671.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Frontline.

Frontline (NYSE:FRO) last released its quarterly earnings results on Thursday, February 28th. The shipping company reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.02). Frontline had a negative net margin of 1.20% and a negative return on equity of 2.04%.

Several research firms have recently commented on FRO. Zacks Investment Research upgraded Frontline from a “hold” rating to a “buy” rating and set a $7.50 price objective on the stock in a report on Wednesday. ValuEngine upgraded Frontline from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Deutsche Bank lifted their price objective on Frontline from $6.00 to $7.00 and gave the stock a “hold” rating in a report on Tuesday, December 4th. DNB Markets downgraded Frontline from a “buy” rating to a “hold” rating and set a $7.30 price objective on the stock. in a report on Friday, November 30th. Finally, Wells Fargo & Co downgraded Frontline from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $7.00 to $5.50 in a report on Thursday, January 10th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $6.55.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FRO. Teachers Advisors LLC increased its holdings in Frontline by 10.4% during the 3rd quarter. Teachers Advisors LLC now owns 156,779 shares of the shipping company’s stock valued at $911,000 after purchasing an additional 14,815 shares during the period. BlackRock Inc. increased its holdings in Frontline by 1.0% during the 3rd quarter. BlackRock Inc. now owns 3,633,341 shares of the shipping company’s stock valued at $21,108,000 after purchasing an additional 36,489 shares during the period. GSA Capital Partners LLP increased its holdings in Frontline by 80.9% during the 3rd quarter. GSA Capital Partners LLP now owns 150,513 shares of the shipping company’s stock valued at $874,000 after purchasing an additional 67,313 shares during the period. Panagora Asset Management Inc. increased its holdings in Frontline by 38,407.0% during the 3rd quarter. Panagora Asset Management Inc. now owns 38,507 shares of the shipping company’s stock valued at $224,000 after purchasing an additional 38,407 shares during the period. Finally, Evermore Global Advisors LLC increased its holdings in Frontline by 3.3% during the 3rd quarter. Evermore Global Advisors LLC now owns 5,687,632 shares of the shipping company’s stock valued at $33,045,000 after purchasing an additional 181,826 shares during the period. Hedge funds and other institutional investors own 18.92% of the company’s stock.

Shares of FRO traded up $0.15 during trading hours on Friday, hitting $6.46. The company had a trading volume of 514,283 shares, compared to its average volume of 411,248. The company has a market cap of $1.10 billion, a P/E ratio of -46.14, a P/E/G ratio of 2.91 and a beta of 1.02. The company has a current ratio of 1.44, a quick ratio of 1.32 and a debt-to-equity ratio of 1.46. Frontline has a 52-week low of $4.24 and a 52-week high of $8.33.

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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