Top Wall Street Forecasters Revamp Frontline Price Expectations Ahead Of Q2 Earnings

Frontline plc FRO is set to release earnings results for its second quarter, before the opening bell on Friday, Aug. 30.

Analysts expect the Limassol, Cyprus-based company to report quarterly earnings at 67 cents per share, down from 94 cents per share in the year-ago period. Frontline projects to report quarterly revenue of $382.32 million for the quarter, down from $512.76 million in the year-ago quarter, according to data from Benzinga Pro.

On Feb. 29, Frontline reported a fourth-quarter fiscal 2023 revenue decline of 21.8% year-over-year to $415 million, beating the consensus of $270.06 million.

Frontline shares fell 0.1% to close at $23.32 on Thursday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

• Evercore ISI Group analyst Jonathan Chappell maintained an Outperform rating and cut the price target from $33 to $32 on July 23. This analyst has an accuracy rate of 74%.
• Jefferies analyst Omar Nokta maintained a Buy rating on May 30. This analyst has an accuracy rate of 75%.
• JP Morgan analyst Samuel Bland maintained a Neutral rating and lowered the price target from $23 to $22.3 on March 1. This analyst has an accuracy rate of 79%.
• Deutsche Bank analyst Amit Mehrotra upgraded the stock from Hold to Buy with a price target of $26 on Jan. 9. This analyst has an accuracy rate of 76%.

Considering buying FRO stock? Here’s what analysts think:

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