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Frontline (FRO) Stock Sinks As Market Gains: Here's Why
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Frontline (FRO - Free Report) ended the recent trading session at $21.81, demonstrating a -0.46% swing from the preceding day's closing price. This change lagged the S&P 500's 0.57% gain on the day. Meanwhile, the Dow gained 0.46%, and the Nasdaq, a tech-heavy index, added 0.75%.
The shipping company's shares have seen an increase of 18.05% over the last month, surpassing the Transportation sector's gain of 2.08% and the S&P 500's gain of 3.4%.
The investment community will be paying close attention to the earnings performance of Frontline in its upcoming release. The company is predicted to post an EPS of $0.56, indicating a 42.27% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $276.26 million, indicating a 21.71% decline compared to the corresponding quarter of the prior year.
It is also important to note the recent changes to analyst estimates for Frontline. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.28% lower. As of now, Frontline holds a Zacks Rank of #3 (Hold).
In terms of valuation, Frontline is currently trading at a Forward P/E ratio of 6.76. For comparison, its industry has an average Forward P/E of 7.23, 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 202, putting it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Frontline (FRO) Stock Sinks As Market Gains: Here's Why
Frontline (FRO - Free Report) ended the recent trading session at $21.81, demonstrating a -0.46% swing from the preceding day's closing price. This change lagged the S&P 500's 0.57% gain on the day. Meanwhile, the Dow gained 0.46%, and the Nasdaq, a tech-heavy index, added 0.75%.
The shipping company's shares have seen an increase of 18.05% over the last month, surpassing the Transportation sector's gain of 2.08% and the S&P 500's gain of 3.4%.
The investment community will be paying close attention to the earnings performance of Frontline in its upcoming release. The company is predicted to post an EPS of $0.56, indicating a 42.27% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $276.26 million, indicating a 21.71% decline compared to the corresponding quarter of the prior year.
It is also important to note the recent changes to analyst estimates for Frontline. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.28% lower. As of now, Frontline holds a Zacks Rank of #3 (Hold).
In terms of valuation, Frontline is currently trading at a Forward P/E ratio of 6.76. For comparison, its industry has an average Forward P/E of 7.23, 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 202, putting it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.