Frontline (FRO) Stock Moves -1.45%: What You Should Know
Frontline (FRO) closed the most recent trading day at $6.10, moving -1.45% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.86%. Meanwhile, the Dow lost 2.3%, and the Nasdaq, a tech-heavy index, lost 1.64%.
Coming into today, shares of the shipping company had lost 2.21% in the past month. In that same time, the Transportation sector gained 5.41%, while the S&P 500 gained 7.63%.
Investors will be hoping for strength from FRO as it approaches its next earnings release. In that report, analysts expect FRO to post earnings of $0.36 per share. This would mark year-over-year growth of 700%. Meanwhile, our latest consensus estimate is calling for revenue of $188.05 million, up 99.71% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.65 per share and revenue of $979.71 million, which would represent changes of +223.17% and +74.38%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for FRO. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. FRO is currently a Zacks Rank #1 (Strong Buy).
Investors should also note FRO's current valuation metrics, including its Forward P/E ratio of 2.34. This represents a discount compared to its industry's average Forward P/E of 6.29.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 176, putting it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming 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.