Frontline (NYSE:FRO) posted its quarterly earnings results on Wednesday, November 27th. The shipping company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.09), Briefing.com reports. Frontline had a return on equity of 5.56% and a net margin of 6.76%. The business had revenue of $187.64 million for the quarter, compared to analyst estimates of $106.40 million. During the same quarter in the prior year, the firm earned ($0.05) EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis.
Shares of NYSE FRO opened at $11.31 on Friday. The firm’s 50-day simple moving average is $10.65 and its 200 day simple moving average is $9.00. The company has a market cap of $2.16 billion, a price-to-earnings ratio of -80.79, a price-to-earnings-growth ratio of 2.70 and a beta of 0.98. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 1.46. Frontline has a 12-month low of $4.82 and a 12-month high of $11.91.
The business also recently declared a — dividend, which will be paid on Friday, December 20th. Investors of record on Wednesday, December 11th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, December 10th. Frontline’s dividend payout ratio (DPR) is -285.71%.
Several equities research analysts have recently commented on FRO shares. Evercore ISI upgraded shares of Frontline from an “in-line” rating to an “outperform” rating and set a $14.00 target price on the stock in a research note on Friday, October 18th. BTIG Research boosted their target price on shares of Frontline from $12.00 to $18.00 in a research note on Tuesday, November 5th. ValuEngine upgraded shares of Frontline from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd. Zacks Investment Research upgraded shares of Frontline from a “hold” rating to a “strong-buy” rating and set a $10.00 target price on the stock in a research note on Wednesday, September 18th. Finally, Nordea Equity Research upgraded shares of Frontline from a “sell” rating to a “buy” rating in a research note on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Frontline presently has an average rating of “Buy” and a consensus price target of $10.58.
Frontline Company Profile
Frontline Ltd., 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, 2018, the company’s fleet consisted of 61 vessels, which included very large crude carrier, Suezmax, and LR2/Aframax tankers with an aggregate capacity of approximately 11.6 million deadweight ton.
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