Listed on both the New York Stock Exchange and Oslo Stock Exchange, this company owns and operates one of the largest oil tanker fleets in the industry. The fleet ranges from the large VLCC-class ships and medium-sized Suezmax tankers to smaller tankers. Labeling itself a "cash machine" in its Q2 presentation, it generated $230.7 million in profit last quarter, enabling a cash payout of 80 cents a share.
Boosted by rising crude oil prices, seaborne transportation leader Frontline (FRO) just generated its largest Q2 profit since 2008. That has FRO stock laying down a direct pipeline to a buy zone, with the company paying a dividend with an eye-popping 18.7% yield on an annualized basis. After posting four quarters of triple-digit or higher EPS growth based on prior-year quarters that showed a loss, the oil transporter continued its rebound in Q1. On Aug. 24, Frontline reported earnings per share of 94 cents, an impressive 327% year-over-year gain. Wall Street forecasts a 74% EPS gain for the full year to $2.77 per share.
Source: Investors.com
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Posted by D4L | Thursday, October 19, 2023 | ArticleLinks | 0 comments »________________________________________________________________
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