Brokerages Anticipate Frontline Ltd (NYSE:FRO) Will Announce Quarterly Sales of $102.98 Million

Wall Street analysts forecast that Frontline Ltd (NYSE:FRO) will report $102.98 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Frontline’s earnings. The highest sales estimate is $103.90 million and the lowest is $102.05 million. Frontline reported sales of $72.36 million during the same quarter last year, which indicates a positive year-over-year growth rate of 42.3%. The firm is scheduled to report its next earnings results before the market opens on Friday, August 30th.

According to Zacks, analysts expect that Frontline will report full year sales of $468.76 million for the current year, with estimates ranging from $432.63 million to $503.55 million. For the next fiscal year, analysts anticipate that the business will report sales of $628.06 million, with estimates ranging from $594.77 million to $673.30 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Frontline.

Frontline (NYSE:FRO) last issued its quarterly earnings results on Thursday, May 16th. The shipping company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.24 by $0.03. Frontline had a net margin of 5.52% and a return on equity of 3.08%. The company had revenue of $140.76 million during the quarter, compared to analysts’ expectations of $148.24 million. During the same quarter in the previous year, the company earned ($0.08) EPS.



Several research firms recently weighed in on FRO. TheStreet raised shares of Frontline from a “d+” rating to a “c-” rating in a research note on Monday, May 20th. Zacks Investment Research raised shares of Frontline from a “hold” rating to a “strong-buy” rating and set a $9.00 price objective on the stock in a research note on Wednesday, July 24th. ValuEngine lowered shares of Frontline from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Jefferies Financial Group set a $8.00 price objective on shares of Frontline and gave the stock a “hold” rating in a research note on Friday, July 5th. Finally, Morgan Stanley set a $8.00 price objective on shares of Frontline and gave the stock a “hold” rating in a research note on Friday, May 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $7.47.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in Frontline by 2.9% in the 4th quarter. BlackRock Inc. now owns 3,739,119 shares of the shipping company’s stock worth $20,678,000 after buying an additional 105,778 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Frontline by 1.6% in the 4th quarter. Bank of New York Mellon Corp now owns 262,884 shares of the shipping company’s stock worth $1,454,000 after buying an additional 4,172 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Frontline by 17.0% in the 4th quarter. Geode Capital Management LLC now owns 293,066 shares of the shipping company’s stock worth $1,620,000 after buying an additional 42,640 shares in the last quarter. Legal & General Group Plc lifted its holdings in Frontline by 37.8% in the 4th quarter. Legal & General Group Plc now owns 36,048 shares of the shipping company’s stock worth $200,000 after buying an additional 9,886 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in Frontline by 130.7% in the 4th quarter. Deutsche Bank AG now owns 740,715 shares of the shipping company’s stock worth $4,094,000 after buying an additional 419,702 shares in the last quarter. Institutional investors and hedge funds own 18.80% of the company’s stock.

Shares of NYSE:FRO traded down $0.67 during trading on Wednesday, hitting $6.51. 530,602 shares of the company’s stock were exchanged, compared to its average volume of 632,667. Frontline has a 1-year low of $4.46 and a 1-year high of $9.54. The company’s 50-day moving average is $7.74. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.38 and a current ratio of 1.38. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -46.46, a P/E/G ratio of 3.58 and a beta of 1.02.

Frontline Company Profile

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, 2018, the company's fleet consisted of 61 vessels, which included very large crude carrier, 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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