Frontline (FRO) to Release Quarterly Earnings on Friday

Frontline (NYSE:FRO) will be issuing its quarterly earnings data before the market opens on Friday, November 29th. Analysts expect the company to announce earnings of $0.39 per share for the quarter.

Frontline (NYSE:FRO) last announced its earnings results on Friday, August 30th. The shipping company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.03). Frontline had a net margin of 29.42% and a return on equity of 19.73%. The firm had revenue of $409.72 million during the quarter, compared to analysts’ expectations of $383.88 million. During the same quarter last year, the company posted $0.94 earnings per share. On average, analysts expect Frontline to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Frontline Stock Down 3.6 %

FRO stock opened at $19.53 on Friday. The company has a market capitalization of $4.35 billion, a P/E ratio of 7.34 and a beta of 0.06. The firm has a 50 day simple moving average of $21.55 and a 200-day simple moving average of $23.78. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.40. Frontline has a twelve month low of $18.26 and a twelve month high of $29.39.

Frontline Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 12.70%. The ex-dividend date was Friday, September 13th. Frontline’s dividend payout ratio is currently 93.23%.

Wall Street Analysts Forecast Growth

FRO has been the topic of a number of recent research reports. BTIG Research raised Frontline from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Monday, October 7th. Fearnley Fonds upgraded shares of Frontline to a “strong-buy” rating in a research note on Friday, September 27th. StockNews.com upgraded shares of Frontline to a “sell” rating in a research report on Thursday, September 5th. Finally, Jefferies Financial Group dropped their price target on shares of Frontline from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.26.

Frontline Company Profile

Frontline plc, 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, 2022, the company operated a fleet of 70 vessels. It is also involved in the charter, purchase, and sale of vessels. The company was founded in 1985 and is based in Limassol, Cyprus.