Frontline (FRO) Scheduled to Post Quarterly Earnings on Friday

Frontline (NYSE:FRO) is set 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 for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Frontline (NYSE:FRO) last issued its quarterly earnings results on Friday, August 30th. The shipping company reported $0.62 EPS 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 company had revenue of $409.72 million during the quarter, compared to the consensus estimate of $383.88 million. During the same period in the prior year, the firm 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 Performance

Shares of FRO opened at $18.07 on Wednesday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.40. The business’s 50 day moving average price is $21.41 and its 200-day moving average price is $23.68. Frontline has a 52 week low of $18.02 and a 52 week high of $29.39. The stock has a market cap of $4.02 billion, a P/E ratio of 6.79 and a beta of 0.06.

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 was Friday, September 13th. This represents a $2.48 annualized dividend and a yield of 13.73%. Frontline’s dividend payout ratio (DPR) is presently 93.23%.

Wall Street Analysts Forecast Growth

FRO has been the topic of several analyst reports. Fearnley Fonds raised Frontline to a “strong-buy” rating in a research report on Friday, September 27th. Jefferies Financial Group reduced their price objective on Frontline from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. BTIG Research upgraded 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. Finally, StockNews.com upgraded Frontline to a “sell” rating in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently 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.