Frontline (NYSE:FRO) Posts Earnings Results, Misses Expectations By $0.09 EPS

Frontline (NYSE:FRO) announced its quarterly earnings data on Wednesday. The shipping company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.09), reports. The company had revenue of $187.64 million for the quarter, compared to analysts’ expectations of $106.40 million. Frontline had a net margin of 8.21% and a return on equity of 5.73%. Frontline’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the firm earned ($0.05) earnings per share.

Shares of FRO stock traded up $0.12 during mid-day trading on Friday, hitting $11.23. 1,172,169 shares of the stock were exchanged, compared to its average volume of 1,063,470. The firm has a fifty day moving average of $10.61 and a 200 day moving average of $8.81. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.41. Frontline has a 52-week low of $4.82 and a 52-week high of $11.91. The company has a market cap of $2.15 billion, a PE ratio of -80.21, a price-to-earnings-growth ratio of 2.20 and a beta of 0.92.

A number of equities research analysts have recently weighed in on FRO shares. Zacks Investment Research raised shares of Frontline from a “hold” rating to a “strong-buy” rating and set a $10.00 price objective on the stock in a report on Wednesday, September 18th. BTIG Research upped their price target on shares of Frontline from $12.00 to $18.00 in a report on Tuesday, November 5th. ValuEngine lowered shares of Frontline from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 29th. Evercore ISI raised shares of Frontline from an “in-line” rating to an “outperform” rating and set a $14.00 price target on the stock in a report on Friday, October 18th. Finally, Nordea Equity Research raised shares of Frontline from a “sell” rating to a “buy” rating in a report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $9.73.

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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Earnings History for Frontline (NYSE:FRO)

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