Frontline (FRO) closed the most recent trading day at $7.55, moving +0.8% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.58%. Meanwhile, the Dow gained 0.62%, and the Nasdaq, a tech-heavy index, added 0.24%.
Coming into today, shares of the shipping company had lost 0.27% in the past month. In that same time, the Transportation sector gained 5.43%, while the S&P 500 gained 5.34%.
Wall Street will be looking for positivity from FRO as it approaches its next earnings report date. On that day, FRO is projected to report earnings of $0.98 per share, which would represent year-over-year growth of 4800%. Meanwhile, our latest consensus estimate is calling for revenue of $315.29 million, up 206.88% from the prior-year quarter.
FRO's full-year Zacks Consensus Estimates are calling for earnings of $2.33 per share and revenue of $1.17 billion. These results would represent year-over-year changes of +184.15% and +109.11%, respectively.
Investors should also note any recent changes to analyst estimates for FRO. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. FRO is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note FRO's current valuation metrics, including its Forward P/E ratio of 3.21. This valuation marks a discount compared to its industry's average Forward P/E of 4.63.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 230, putting it in the bottom 10% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow FRO in the coming trading sessions, be sure to utilize Zacks.com.
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