Brokerages forecast that Frontline Ltd. (NYSE:FRO) will post earnings of ($0.14) per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Frontline’s earnings, with the lowest EPS estimate coming in at ($0.16) and the highest estimate coming in at ($0.11). Frontline posted earnings of $0.16 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 187.5%. The firm is scheduled to report its next earnings report on Tuesday, May 29th.
According to Zacks, analysts expect that Frontline will report full year earnings of ($0.34) per share for the current year, with EPS estimates ranging from ($0.60) to ($0.17). For the next year, analysts forecast that the firm will report earnings of $0.29 per share, with EPS estimates ranging from $0.19 to $0.42. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Frontline.
Frontline (NYSE:FRO) last announced its quarterly earnings data on Wednesday, February 28th. The shipping company reported $0.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.11. The business had revenue of $99.20 million for the quarter, compared to analysts’ expectations of $88.40 million. Frontline had a negative net margin of 40.98% and a negative return on equity of 0.31%.
Shares of FRO opened at $4.52 on Tuesday. The company has a quick ratio of 1.17, 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 $6.95.
Hedge funds and other institutional investors have recently modified their holdings of the company. PEAK6 Investments L.P. bought a new position in shares of Frontline in the fourth quarter worth approximately $110,000. Legal & General Group Plc lifted its stake in shares of Frontline by 110.6% in the third quarter. Legal & General Group Plc now owns 33,815 shares of the shipping company’s stock worth $204,000 after buying an additional 17,759 shares in the last quarter. Engineers Gate Manager LP lifted its stake in shares of Frontline by 243.2% in the third quarter. Engineers Gate Manager LP now owns 36,664 shares of the shipping company’s stock worth $221,000 after buying an additional 25,981 shares in the last quarter. Virtu Financial LLC lifted its stake in shares of Frontline by 299.3% in the fourth quarter. Virtu Financial LLC now owns 50,969 shares of the shipping company’s stock worth $234,000 after buying an additional 38,205 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Frontline in the third quarter worth approximately $244,000. Hedge funds and other institutional investors own 14.41% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Zacks: Brokerages Anticipate Frontline Ltd. (FRO) to Post -$0.14 Earnings Per Share” was originally posted by Ticker Report and is the property of of Ticker Report. If you are reading this article on another website, it was stolen and republished in violation of U.S. and international copyright & trademark law. The legal version of this article can be viewed at https://www.tickerreport.com/banking-finance/3334310/zacks-brokerages-anticipate-frontline-ltd-fro-to-post-0-14-earnings-per-share.html.
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Frontline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Frontline and related companies with MarketBeat.com's FREE daily email newsletter.