Frontline (NYSE:FRO) issued its quarterly earnings results on Wednesday. The shipping company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.09), Briefing.com reports. The firm had revenue of $187.64 million during the quarter, compared to analysts’ expectations of $106.40 million. Frontline had a return on equity of 5.73% and a net margin of 8.21%. The firm’s revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.05) EPS.
Shares of NYSE:FRO traded down $0.05 during trading on Friday, hitting $11.06. 68,027 shares of the company were exchanged, compared to its average volume of 1,063,470. The stock has a market capitalization of $2.15 billion, a P/E ratio of -78.75, a PEG ratio of 2.20 and a beta of 0.92. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.23 and a quick ratio of 1.23. Frontline has a 12-month low of $4.82 and a 12-month high of $11.91. The firm’s 50 day moving average price is $10.61 and its 200-day moving average price is $8.81.
Several analysts have recently weighed in on the stock. Nordea Equity Research upgraded shares of Frontline from a “sell” rating to a “buy” rating in a research report on Wednesday, August 28th. BTIG Research boosted their price objective on shares of Frontline from $12.00 to $18.00 in a research report on Tuesday, November 5th. ValuEngine downgraded shares of Frontline from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 29th. Evercore ISI upgraded shares of Frontline from an “in-line” rating to an “outperform” rating and set a $14.00 price objective for the company in a research report on Friday, October 18th. Finally, Zacks Investment Research upgraded shares of Frontline from a “hold” rating to a “strong-buy” rating and set a $10.00 price objective for the company in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Frontline currently has a consensus rating of “Buy” and an average price target of $9.73.
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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