Frontline (FRO) to Release 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 and revenue of $312.43 million for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Frontline (NYSE:FRO) last released its earnings results on Friday, August 30th. The shipping company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $383.88 million. During the same period last 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 %

NYSE:FRO opened at $16.78 on Thursday. The company’s 50-day moving average is $21.30 and its two-hundred day moving average is $23.63. 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 1-year low of $16.47 and a 1-year high of $29.39.

Frontline Dividend Announcement

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 dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 14.78%. The ex-dividend date was Friday, September 13th. Frontline’s dividend payout ratio (DPR) is presently 93.23%.

Wall Street Analyst Weigh In

FRO has been the topic of a number of recent research reports. Fearnley Fonds upgraded Frontline to a “strong-buy” rating in a research note on Friday, September 27th. StockNews.com raised Frontline to a “sell” rating in a research report on Thursday, September 5th. BTIG Research raised Frontline from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Monday, October 7th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $26.00 target price on shares of Frontline in a report on Wednesday. One research analyst has rated the stock with a sell rating, one has assigned 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.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.