Frontline (FRO) to Release Quarterly Earnings on Friday

Frontline (NYSE:FRO) is scheduled to post its quarterly earnings results before the market opens on Friday, November 29th. Analysts expect Frontline to post earnings of $0.39 per share and revenue of $312.43 million for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Frontline (NYSE:FRO) last released its quarterly earnings data 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). The firm had revenue of $409.72 million during the quarter, compared to analysts’ expectations of $383.88 million. Frontline had a net margin of 29.42% and a return on equity of 19.73%. During the same period in the previous year, the business earned $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 7.1 %

FRO opened at $16.78 on Thursday. 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 one year low of $16.47 and a one year high of $29.39. The business’s fifty day moving average is $21.30 and its two-hundred day moving average is $23.63.

Frontline Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a $0.62 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.48 annualized dividend and a dividend yield of 14.78%. Frontline’s dividend payout ratio is presently 93.23%.

Wall Street Analysts Forecast Growth

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

About Frontline

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.