Frontline (FRO) Expected to Announce Quarterly Earnings on Friday

Frontline (NYSE:FRO - Get Free Report) is anticipated to release its earnings data before the market opens on Friday, February 28th. Analysts expect Frontline to post earnings of $0.20 per share and revenue of $273.16 million for the quarter.

Frontline (NYSE:FRO - Get Free Report) last posted its earnings results on Wednesday, November 27th. The shipping company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.05). Frontline had a return on equity of 19.25% and a net margin of 25.64%. During the same quarter last year, the firm posted $0.36 EPS. On average, analysts expect Frontline to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Frontline Stock Performance

FRO traded down $0.23 on Friday, reaching $16.54. The company had a trading volume of 1,870,769 shares, compared to its average volume of 3,681,685. The stock has a market cap of $3.68 billion and a P/E ratio of 6.75. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.43 and a current ratio of 1.43. Frontline has a fifty-two week low of $13.17 and a fifty-two week high of $29.39. The company's fifty day moving average is $16.19 and its 200 day moving average is $19.51.

Frontline Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Wednesday, December 11th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 8.22%. The ex-dividend date was Wednesday, December 11th. Frontline's payout ratio is 55.51%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Kepler Capital Markets cut Frontline from a "buy" rating to a "hold" rating and set a $15.83 price target for the company. in a report on Thursday, December 12th. Jefferies Financial Group dropped their target price on Frontline from $26.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $24.03.

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.