$88.40 Million in Sales Expected for Frontline Ltd. (FRO) This Quarter

Wall Street analysts expect that Frontline Ltd. (NYSE:FRO) will announce sales of $88.40 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Frontline’s earnings. Frontline reported sales of $128.15 million during the same quarter last year, which indicates a negative year over year growth rate of 31%. The company is expected to announce its next earnings report on Tuesday, February 27th.

According to Zacks, analysts expect that Frontline will report full year sales of $88.40 million for the current financial year, with estimates ranging from $358.50 million to $366.10 million. For the next financial year, analysts expect that the business will post sales of $389.05 million per share, with estimates ranging from $381.80 million to $396.30 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Frontline.

Frontline (NYSE:FRO) last issued its earnings results on Wednesday, November 22nd. The shipping company reported ($0.14) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.01). Frontline had a return on equity of 1.70% and a net margin of 0.29%. The company had revenue of $75.86 million for the quarter, compared to the consensus estimate of $78.30 million.

FRO has been the subject of a number of research reports. Zacks Investment Research lowered shares of Frontline from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. Seaport Global Securities set a $7.00 target price on shares of Frontline and gave the stock a “buy” rating in a research report on Thursday, January 4th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Frontline currently has an average rating of “Hold” and an average target price of $5.67.

Frontline (NYSE:FRO) opened at $4.06 on Tuesday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.47 and a current ratio of 1.47. Frontline has a 12-month low of $3.79 and a 12-month high of $7.24. The firm has a market cap of $5,580.00, a price-to-earnings ratio of 27.07 and a beta of 1.81.

Several large investors have recently modified their holdings of FRO. Bank of New York Mellon Corp boosted its position in shares of Frontline by 7.7% during the second quarter. Bank of New York Mellon Corp now owns 257,954 shares of the shipping company’s stock worth $1,479,000 after acquiring an additional 18,354 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Frontline by 117.8% during the second quarter. Wells Fargo & Company MN now owns 143,363 shares of the shipping company’s stock worth $822,000 after acquiring an additional 77,539 shares during the last quarter. Alliancebernstein L.P. raised its stake in Frontline by 48.8% during the second quarter. Alliancebernstein L.P. now owns 100,600 shares of the shipping company’s stock valued at $576,000 after purchasing an additional 33,000 shares in the last quarter. Teachers Advisors LLC raised its stake in Frontline by 18.2% during the second quarter. Teachers Advisors LLC now owns 135,816 shares of the shipping company’s stock valued at $778,000 after purchasing an additional 20,935 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in Frontline by 12.0% during the second quarter. TIAA CREF Investment Management LLC now owns 202,366 shares of the shipping company’s stock valued at $1,160,000 after purchasing an additional 21,700 shares in the last quarter. Hedge funds and other institutional investors own 12.62% 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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Earnings History and Estimates for Frontline (NYSE:FRO)

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