Frontline Plc (FRO), a Limassol, Cyprus-based company, is scheduled to unveil its second-quarter earnings results before the opening bell on Friday, August 30. Analysts are expecting a dip in performance compared to the previous year, with forecasts pointing to earnings of 67 cents per share, down from 94 cents per share in the same period of 2022. Revenue is also projected to decline, with analysts estimating it to reach $382.32 million, compared to $512.76 million in the second quarter of 2022.
This anticipated decline follows a similar trend observed in Frontline’s fourth-quarter fiscal 2023 results, where revenue fell by 21.8% year-over-year to $415 million, exceeding the consensus estimate of $270.06 million.
Frontline’s stock closed at $23.32 on Thursday, down 0.1%.
To gain insights into the sentiment surrounding FRO stock, let’s examine the recent analyst ratings and price targets:
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Evercore ISI Group:
Jonathan Chappell maintained an Outperform rating with a reduced price target from $33 to $32 on July 23. This analyst boasts an accuracy rate of 74%.*
Jefferies:
Omar Nokta reiterated a Buy rating on May 30. This analyst holds an accuracy rate of 75%.*
JP Morgan:
Samuel Bland maintained a Neutral rating while lowering the price target from $23 to $22.3 on March 1. This analyst has an accuracy rate of 79%.*
Deutsche Bank:
Amit Mehrotra upgraded the stock from Hold to Buy with a price target of $26 on January 9. This analyst exhibits an accuracy rate of 76%.The diverse range of ratings and price targets reflects a mixed outlook on FRO stock. While some analysts remain optimistic, others have expressed a more cautious stance.
Investors considering FRO stock should carefully analyze these analyst opinions in conjunction with their own investment strategies and risk tolerance.
