Equities analysts predict that Frontline Ltd. (NYSE:FRO) will report $81.50 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Frontline’s earnings, with the highest sales estimate coming in at $83.10 million and the lowest estimate coming in at $80.70 million. Frontline posted sales of $121.94 million during the same quarter last year, which suggests a negative year over year growth rate of 33.2%. The business is expected to report its next quarterly earnings results on Tuesday, May 29th.
According to Zacks, analysts expect that Frontline will report full-year sales of $81.50 million for the current fiscal year, with estimates ranging from $365.30 million to $390.10 million. For the next year, analysts expect that the firm will post sales of $480.30 million per share, with estimates ranging from $465.40 million to $495.99 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Frontline.
Frontline (NYSE:FRO) last released its quarterly earnings data on Wednesday, February 28th. The shipping company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.11. The business had revenue of $99.20 million during the quarter, compared to the consensus estimate of $88.40 million. Frontline had a negative return on equity of 0.31% and a negative net margin of 40.98%.
Frontline stock traded down $0.09 during midday trading on Monday, reaching $4.48. The company had a trading volume of 199,216 shares, compared to its average volume of 666,869. The company has a market capitalization of $752.23, a P/E ratio of -2.90 and a beta of 1.89. The company has a quick ratio of 1.47, a current ratio of 1.45 and a debt-to-equity ratio of 1.45. Frontline has a fifty-two week low of $3.79 and a fifty-two week high of $6.97.
Several institutional investors have recently made changes to their positions in the business. Evermore Global Advisors LLC grew its holdings in shares of Frontline by 30.3% during the third quarter. Evermore Global Advisors LLC now owns 5,037,514 shares of the shipping company’s stock worth $30,427,000 after buying an additional 1,170,522 shares in the last quarter. Folketrygdfondet grew its holdings in shares of Frontline by 49.1% during the third quarter. Folketrygdfondet now owns 1,914,988 shares of the shipping company’s stock worth $11,567,000 after buying an additional 630,992 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Frontline by 61.5% during the fourth quarter. Renaissance Technologies LLC now owns 1,437,640 shares of the shipping company’s stock worth $6,599,000 after buying an additional 547,537 shares in the last quarter. Millennium Management LLC bought a new position in shares of Frontline during the fourth quarter worth about $2,263,000. Finally, Jane Street Group LLC grew its holdings in shares of Frontline by 218.0% during the third quarter. Jane Street Group LLC now owns 398,059 shares of the shipping company’s stock worth $2,435,000 after buying an additional 272,875 shares in the last quarter. Institutional investors own 14.41% of the company’s stock.
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Frontline Company Profile
Frontline Ltd. is a shipping company. The Company is engaged in the seaborne transportation of crude oil and oil products. Its tankers segment includes crude oil tankers and product tankers. As of December 31, 2016, the Company’s fleet consisted of 28 vessels owned by the Company (seven very large crude carriers (VLCCs), 10 Suezmax tankers and 11 Aframax/LR2 tankers); 13 vessels that are under capital leases (11 VLCCs and two Suezmax tankers); one VLCC that is recorded as an investment in finance lease; four vessels chartered-in for periods of 12 months, including extension options (two VLCCs and two Suezmax tankers); two VLCCs where cost/revenue is split equally with a third party (of which one is chartered-in by it and one by a third party); three medium range product tankers that are chartered-in on short term time charters with a remaining duration of less than two months, and five vessels that are under commercial management (two Suezmax tankers and three Aframax oil tankers).
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