Frontline (FRO) closed the most recent trading day at $18.04, moving +0.5% from the previous trading session. This move outpaced the S&P 500’s daily loss of 1.05%. Meanwhile, the Dow lost 1.02%, and the Nasdaq, a tech-heavy index, lost 1.64%.
Prior to today’s trading, shares of the shipping company had gained 34.26% over the past month. This has outpaced the Transportation sector’s loss of 0.07% and the S&P 500’s gain of 0.01% in that time.
Investors will be hoping for strength from Frontline as it approaches its next earnings release, which is expected to be February 28, 2023. On that day, Frontline is projected to report earnings of $1.08 per share, which would represent year-over-year growth of 5500%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $366.48 million, up 264.08% from the year-ago period.
Any recent changes to analyst estimates for Frontline should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 22.2% higher within the past month. Frontline is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Frontline has a Forward P/E ratio of 5.98 right now. Its industry sports an average Forward P/E of 6.75, so we one might conclude that Frontline is trading at a discount comparatively.
The Transportation – Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 196, which puts it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers “Most Likely for Early Price Pops.”
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.8% per year. So be sure to give these hand-picked 7 your immediate attention.
Frontline PLC (FRO) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Image and article originally from www.nasdaq.com. Read the original article here.