Frontline Ltd. (FRO) Expected to Announce Quarterly Sales of $88.40 Million

Wall Street analysts expect that Frontline Ltd. (NYSE:FRO) will post sales of $88.40 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Frontline’s earnings. Frontline posted sales of $128.15 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 31%. The company is expected to issue 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 fiscal year, with estimates ranging from $358.50 million to $366.10 million. For the next year, analysts anticipate 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 research analysts that follow Frontline.

FRO has been the subject of several recent research reports. Zacks Investment Research downgraded Frontline from a “hold” rating to a “sell” rating in a 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 report on Thursday, January 4th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $5.67.

Frontline (NYSE FRO) traded down $0.07 during trading hours on Wednesday, hitting $4.80. The stock had a trading volume of 650,800 shares, compared to its average volume of 979,200. Frontline has a fifty-two week low of $4.47 and a fifty-two week high of $7.34. The company has a market capitalization of $6,680.00, a P/E ratio of 30.00 and a beta of 1.88. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.47 and a current ratio of 1.47.

Hedge funds have recently modified their holdings of the company. Cubist Systematic Strategies LLC purchased a new stake in Frontline in the third quarter valued at approximately $244,000. Jane Street Group LLC boosted its position in Frontline by 218.0% in the third quarter. Jane Street Group LLC now owns 398,059 shares of the shipping company’s stock valued at $2,435,000 after buying an additional 272,875 shares during the last quarter. Engineers Gate Manager LP boosted its position in Frontline by 243.2% in the third quarter. Engineers Gate Manager LP now owns 36,664 shares of the shipping company’s stock valued at $221,000 after buying an additional 25,981 shares during the last quarter. Legal & General Group Plc boosted its position in Frontline by 110.6% in the third quarter. Legal & General Group Plc now owns 33,815 shares of the shipping company’s stock valued at $204,000 after buying an additional 17,759 shares during the last quarter. Finally, Folketrygdfondet boosted its position in Frontline by 49.1% in the third quarter. Folketrygdfondet now owns 1,914,988 shares of the shipping company’s stock valued at $11,567,000 after buying an additional 630,992 shares during the last quarter. Institutional investors and hedge funds own 13.23% of the company’s stock.

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