Brokerages forecast that Frontline Ltd (NYSE:FRO) will announce $58.30 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Frontline’s earnings. The lowest sales estimate is $57.40 million and the highest is $59.20 million. Frontline posted sales of $89.99 million during the same quarter last year, which suggests a negative year-over-year growth rate of 35.2%. The company is scheduled to report its next quarterly earnings report on Wednesday, August 29th.
On average, analysts expect that Frontline will report full year sales of $315.40 million for the current year, with estimates ranging from $307.20 million to $323.60 million. For the next year, analysts forecast that the business will report sales of $431.50 million per share, with estimates ranging from $409.70 million to $453.30 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow Frontline.
Frontline (NYSE:FRO) last announced its quarterly earnings data on Thursday, May 31st. The shipping company reported ($0.08) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.09. Frontline had a negative return on equity of 3.50% and a negative net margin of 47.83%. The firm had revenue of $80.58 million during the quarter, compared to analyst estimates of $76.64 million.
A number of brokerages have commented on FRO. ValuEngine upgraded Frontline from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 24th. Wells Fargo & Co upgraded Frontline from a “market perform” rating to an “outperform” rating and set a $5.00 price objective for the company in a research report on Monday, June 18th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $6.00.
Several institutional investors and hedge funds have recently bought and sold shares of FRO. Segantii Capital Management Ltd purchased a new stake in shares of Frontline during the 2nd quarter worth about $143,000. UBS Group AG raised its stake in shares of Frontline by 297.5% during the 1st quarter. UBS Group AG now owns 59,652 shares of the shipping company’s stock worth $264,000 after purchasing an additional 44,645 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Frontline during the 1st quarter worth about $295,000. Creative Planning raised its stake in shares of Frontline by 37.4% during the 2nd quarter. Creative Planning now owns 63,300 shares of the shipping company’s stock worth $370,000 after purchasing an additional 17,240 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Frontline during the 2nd quarter worth about $486,000. 15.61% of the stock is owned by institutional investors.
Frontline traded down $0.12, reaching $4.97, during trading on Friday, according to Marketbeat Ratings. 394,616 shares of the company’s stock were exchanged, compared to its average volume of 344,242. Frontline has a fifty-two week low of $3.79 and a fifty-two week high of $6.43. The firm has a market capitalization of $864.30 million, a PE ratio of -165.67 and a beta of 1.35. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.60.
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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