Frontline (FRO) Projected to Post Earnings on Friday

Frontline (NYSE:FRO) is expected to issue its quarterly earnings data before the market opens on Friday, February 28th. Analysts expect the company to announce earnings of $0.20 per share and revenue of $273.16 million for the quarter.

Frontline (NYSE:FRO) last issued its quarterly earnings data on Wednesday, November 27th. The shipping company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.05). Frontline had a net margin of 25.64% and a return on equity of 19.25%. During the same quarter last year, the company posted $0.36 earnings per share. On average, analysts expect Frontline to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Frontline Stock Performance

Shares of FRO stock opened at $16.80 on Friday. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.43 and a quick ratio of 1.43. Frontline has a 12 month low of $13.17 and a 12 month high of $29.39. The company’s fifty day moving average price is $16.19 and its two-hundred day moving average price is $19.51. The firm has a market capitalization of $3.74 billion and a P/E ratio of 6.86.

Frontline Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Wednesday, December 11th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 8.10%. The ex-dividend date was Wednesday, December 11th. Frontline’s payout ratio is currently 55.51%.

Analyst Upgrades and Downgrades

A number of research firms have commented on FRO. Jefferies Financial Group reduced their price objective on shares of Frontline from $26.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, December 17th. Kepler Capital Markets cut shares of Frontline from a “buy” rating to a “hold” rating and set a $15.83 price target on the stock. in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.03.

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.