Revenue Update on Frontline Ltd.(NYSE:FRO)

Frontline Ltd.(NYSE:FRO) announced the earnings results for Fiscal Year 2016 and Q3. The results came in during Pre-market on Nov 29, 2016. Company reported revenue of $157.16M. Analysts estimated a revenue of $121.93M. The revenues were $35.23M or 28.89% above the estimates. Earnings per share were $0.11. The reported EPS was above estimates by $0.07 or 175.00%. Analysts had estimated an EPS of $0.04.

Frontline Ltd. (FRO) shares turned negative on Tuesdays trading session with the shares closing down -0.15 points or -2.02% at a volume of 15,22,394. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $7.42. The peak price level was also seen at $7.42 while the days lowest was $7.06. Finally the shares closed at $7.29. The 52-week high of the shares is $16.375 while the 52-week low is $6.8. According to the latest information available, the market cap of the company is $1,140 M.

Frontline Ltd. is a shipping company. The Company is engaged in the ownership and operation of oil tankers. The Company operates oil tankers of two sizes: very large crude carriers (VLCCs) which are between 200000 and 320000 deadweight tons and Suezmax tankers which are vessels between 120000 and 170000 deadweight tons. The Company operates through subsidiaries and partnerships located in the Bahamas Bermuda the Cayman Islands India the Isle of Man Liberia Norway the United Kingdom and Singapore. It is also involved in the charter purchase and sale of vessels. As of December 31 2014 the Company’s tanker fleet consisted of 22 vessels and consists of 14 VLCCs (excluding the four vessels in the Windsor group) and eight Suezmax tankers of which one Suezmax Front Ull is owned and the remaining 21 are chartered in.

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