Frontline Stock Dips Ahead Of Q3 Earnings, But Retail Sentiment Improves

Shares of international shipping company Frontline ($FRO) were down more than 5% on Tuesday afternoon ahead of the company’s third-quarter earnings, but retail sentiment inched up.

Wall Street analysts expect Frontline to announce earnings per share (EPS) of $0.36 per share on revenues of $309.1 million. The company is set to announce results on Wednesday. The company has beaten EPS estimates thrice out of its last four earnings quarters.

For its second quarter, Frontline’s EPS came in at $0.84, which beat consensus estimates. Its revenues of $357.6 million were below analyst estimates.

Retail sentiment on the stock improved to ‘neutral’ (47/100) from ‘bearish’ (42/100) a day ago. Message volumes rose to the ‘high’ zone, signaling an uptick in chatter ahead of the results.

FRO sentiment meter and message volumes on Nov 26 as of 4:11 pm ET

Last month, Jefferies lowered the firm's price target to $26 from $30 and kept a Buy rating as tanker stocks came under pressure, the Fly.com reported. According to the analyst, Q3 estimate revisions have been followed by Q4 estimate revisions “leading to nervousness on 2025," added the report.

Frontline has been divesting older assets, consolidating financials, and executing on its strategy of efficiently running “one of the largest modern fleets in the tanker market” company CEO Lars H. Barstad said in August at the time of its last earnings announcement.

“Seasonality has a big effect on tanker markets, and as most of the global population lives in the northern hemisphere, the summer is the soft period…Historically, refinery utilization increases from here, as the world begins to prepare for winter and volatility in the tanker markets resumes.”

The shipping company operates a large fleet of vessels that transport crude oil.

Frontline’s stock is down 10.37% year-to-date.

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