Frontline (FRO) Set to Announce Earnings on Friday

Frontline (NYSE:FRO) is scheduled to be posting its quarterly earnings results before the market opens on Friday, November 29th. Analysts expect Frontline to post 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 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.03). Frontline had a return on equity of 19.73% and a net margin of 29.42%. The business had revenue of $409.72 million for the quarter, compared to the consensus estimate of $383.88 million. During the same quarter in the previous year, the company posted $0.94 EPS. On average, analysts expect Frontline to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Frontline Stock Performance

Frontline stock opened at $19.53 on Friday. The stock has a 50-day simple moving average of $21.55 and a 200 day simple moving average of $23.78. The stock has a market capitalization of $4.35 billion, a price-to-earnings ratio of 7.34 and a beta of 0.06. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.40. Frontline has a 12-month low of $18.26 and a 12-month high of $29.39.

Frontline Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 12.70%. The ex-dividend date of this dividend was Friday, September 13th. Frontline’s dividend payout ratio is presently 93.23%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. StockNews.com raised shares of Frontline to a “sell” rating in a report on Thursday, September 5th. Fearnley Fonds raised Frontline to a “strong-buy” rating in a research note on Friday, September 27th. BTIG Research raised Frontline from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Monday, October 7th. Finally, Jefferies Financial Group lowered their price objective on Frontline from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. One equities research 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 stock. Based on data from MarketBeat, Frontline has an average 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.