$FRO, a shipping company, experienced a 5% decline in its stock price, reaching a new 52-week low ahead of its earnings report. The company's third-quarter earnings revealed a net income of $60 million, significantly below the estimated $88.5 million and representing a 44% year-over-year decrease. In Europe, $FRO reported a 10% decline in performance. The adjusted earnings per share (EPS) and dividend were both reported at $0.34. Additionally, the company secured $512 million in new sales leaseback financing. Despite these results, Jefferies maintained a 'BUY' rating on $FRO with a price target of $26.