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Frontline (FRO) Gains As Market Dips: What You Should Know
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Frontline (FRO - Free Report) closed at $17.54 in the latest trading session, marking a +1.5% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.7%. At the same time, the Dow lost 0.54%, and the tech-heavy Nasdaq lost 1.17%.
Prior to today's trading, shares of the shipping company had gained 10.06% over the past month. This has outpaced the Transportation sector's gain of 2.22% and the S&P 500's gain of 2.35% in that time.
Investors will be hoping for strength from Frontline as it approaches its next earnings release. In that report, analysts expect Frontline to post earnings of $0.90 per share. This would mark year-over-year growth of 328.57%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $353.46 million, up 122.03% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.81 per share and revenue of $1.15 billion, which would represent changes of +77.85% and +40.02%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Frontline. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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. The Zacks Consensus EPS estimate has moved 1.26% higher within the past month. Frontline is currently a Zacks Rank #3 (Hold).
In terms of valuation, Frontline is currently trading at a Forward P/E ratio of 6.15. For comparison, its industry has an average Forward P/E of 7.27, which means Frontline is trading at a discount to the group.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 195, putting it in the bottom 23% 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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Frontline (FRO) Gains As Market Dips: What You Should Know
Frontline (FRO - Free Report) closed at $17.54 in the latest trading session, marking a +1.5% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.7%. At the same time, the Dow lost 0.54%, and the tech-heavy Nasdaq lost 1.17%.
Prior to today's trading, shares of the shipping company had gained 10.06% over the past month. This has outpaced the Transportation sector's gain of 2.22% and the S&P 500's gain of 2.35% in that time.
Investors will be hoping for strength from Frontline as it approaches its next earnings release. In that report, analysts expect Frontline to post earnings of $0.90 per share. This would mark year-over-year growth of 328.57%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $353.46 million, up 122.03% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.81 per share and revenue of $1.15 billion, which would represent changes of +77.85% and +40.02%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Frontline. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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. The Zacks Consensus EPS estimate has moved 1.26% higher within the past month. Frontline is currently a Zacks Rank #3 (Hold).
In terms of valuation, Frontline is currently trading at a Forward P/E ratio of 6.15. For comparison, its industry has an average Forward P/E of 7.27, which means Frontline is trading at a discount to the group.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 195, putting it in the bottom 23% 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.