Frontline (FRO) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Frontline (FRO) closed at $8.20, marking a +0.49% move from the previous day. This move outpaced the S&P 500's daily gain of 0.27%. Meanwhile, the Dow gained 1.31%, and the Nasdaq, a tech-heavy index, lost 0.39%.
Prior to today's trading, shares of the shipping company had gained 13.42% over the past month. This has outpaced the Transportation sector's gain of 12.55% and the S&P 500's gain of 6.66% in that time.
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 $1.15 per share and revenue of $1.17 billion. These results would represent year-over-year changes of +40.24% and +109.11%, respectively.
Any recent changes to analyst estimates for FRO should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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 has moved 50.64% lower. FRO is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, FRO currently has a Forward P/E ratio of 7.13. Its industry sports an average Forward P/E of 7.13, so we one might conclude that FRO is trading at a no noticeable deviation comparatively.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 223, putting it in the bottom 13% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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