$0.27 EPS Expected for Frontline Ltd (FRO) This Quarter

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Equities research analysts predict that Frontline Ltd (NYSE:FRO) will post $0.27 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Frontline’s earnings, with the highest EPS estimate coming in at $0.34 and the lowest estimate coming in at $0.23. Frontline reported earnings per share of ($0.08) in the same quarter last year, which indicates a positive year over year growth rate of 437.5%. The company is expected to issue its next earnings report on Thursday, May 30th.

On average, analysts expect that Frontline will report full-year earnings of $0.45 per share for the current financial year, with EPS estimates ranging from $0.20 to $0.61. For the next financial year, analysts anticipate that the firm will post earnings of $1.17 per share, with EPS estimates ranging from $0.91 to $1.50. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Frontline.

Frontline (NYSE:FRO) last released its earnings results on Thursday, February 28th. The shipping company reported $0.15 earnings per share for the quarter, missing the 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%. The firm had revenue of $122.34 million during the quarter, compared to the consensus estimate of $124.00 million.

Several equities analysts recently weighed in on the stock. Zacks Investment Research cut shares of Frontline from a “buy” rating to a “hold” rating in a research note on Friday. Morgan Stanley reissued a “hold” rating on shares of Frontline in a research note on Friday, February 15th. DNB Markets raised shares of Frontline from a “hold” rating to a “buy” rating in a research note on Tuesday, February 12th. Wells Fargo & Co cut shares of Frontline from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $7.00 to $5.50 in a research note on Thursday, January 10th. Finally, ValuEngine raised shares of Frontline from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $6.76.

Several large investors have recently added to or reduced their stakes in FRO. Wells Fargo & Company MN grew its stake in shares of Frontline by 53.8% in the third quarter. Wells Fargo & Company MN now owns 110,996 shares of the shipping company’s stock valued at $645,000 after buying an additional 38,804 shares in the last quarter. BlackRock Inc. boosted its position in Frontline by 1.0% during the third quarter. BlackRock Inc. now owns 3,633,341 shares of the shipping company’s stock worth $21,108,000 after purchasing an additional 36,489 shares during the period. Panagora Asset Management Inc. boosted its position in Frontline by 38,407.0% during the third quarter. Panagora Asset Management Inc. now owns 38,507 shares of the shipping company’s stock worth $224,000 after purchasing an additional 38,407 shares during the period. GSA Capital Partners LLP boosted its position in Frontline by 80.9% during the third quarter. GSA Capital Partners LLP now owns 150,513 shares of the shipping company’s stock worth $874,000 after purchasing an additional 67,313 shares during the period. Finally, Paloma Partners Management Co bought a new position in Frontline during the third quarter worth $106,000. 18.92% of the stock is owned by institutional investors and hedge funds.

NYSE:FRO opened at $7.79 on Friday. Frontline has a 1-year low of $4.24 and a 1-year high of $8.33. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.12 and a current ratio of 1.44.

About Frontline

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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