Frontline (FRO) Stock Moves -0.7%: What You Should Know

In the latest trading session, Frontline (FRO) closed at $24.27, marking a -0.7% move from the previous day. The stock exceeded the S&P 500, which registered a loss of 1.23% for the day. Elsewhere, the Dow lost 1.36%, while the tech-heavy Nasdaq lost 1.4%.

The shipping company's stock has climbed by 4.85% in the past month, exceeding the Transportation sector's gain of 1.27% and the S&P 500's gain of 1.61%.

Analysts and investors alike will be keeping a close eye on the performance of Frontline in its upcoming earnings disclosure. The company is expected to report EPS of $0.70, down 19.54% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $328.51 million, indicating a 6.88% downward movement from the same quarter last year.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.01 per share and revenue of $1.23 billion, indicating changes of +14.45% and +2.16%, respectively, compared to the previous year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Frontline. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 7.89% increase. Currently, Frontline is carrying a Zacks Rank of #3 (Hold).

Investors should also note Frontline's current valuation metrics, including its Forward P/E ratio of 8.12. This signifies a discount in comparison to the average Forward P/E of 8.19 for its industry.

The Transportation - Shipping industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 78, positioning it in the top 31% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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