Looking To Buy Frontline Ltd. (FRO)? Read This First

0
6

Frontline Ltd. (NYSE:FRO) saw a downside of -1.08% to close Tuesday at $13.70 after subtracting -$0.15 on the day. The 5-day average trading volume is 3,174,300 shares of the company’s common stock. It has gained $14.13 in the past week and touched a new high 2 times within the past 5 days. An average of 6,308,325 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 5,453,736.

FRO’s 1-month performance is 7.11% or $1.21 on its low of $10.55 reached on 01/04/23. The company’s shares have touched a 52-week low of $6.10 and high of $14.85, with the stock’s rally to the 52-week high happening on 01/10/23. YTD, FRO has achieved 12.85% or $1.56 and has reached a new high 2 times. However, the current price is down -7.74% from the 52-week high price.

Top 5 Undervalued Stocks To Own In 2023

Microchip Maker Releases "World's Most Powerful Data Center CPU". It could allow the company who manufactures it to lead the industry as the global microchip shortage continues into the coming year. We've put together a free research report that explains all the details. Not only will you find out why analysts believe this chip manufacturer could lead the pack, you will also discover four more potential winners for the coming year.

Click here to download your Free Research Report…

Sponsored

Valuation Metrics

FRO stock has a beta of 0.36. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.65 while the price-to-book (PB) in the most recent quarter is 1.51.

As well, the company’s long term debt to equity for the quarter ending June 29 was 1.03, while the total debt to equity was 1.16.. In terms of profitability, the gross margin trailing 12 months is 34.80%. The trailing 12-month EBITDA margin is 32.85% while for the period ending June 29, Frontline Ltd.’s operating margin was 19.30%. The firm’s gross profit as reported stood at $178.38 million against revenue of $749.38 million.

Earnings Surprise

For the quarterly period ending June 29 this year, Frontline Ltd.’s cash and short-term investments amounted to $2.44 million against total debt of $2.33 billion. Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 3802.96% to -$11.15 million, while revenue of $0.0 was 100.0% off the previous quarter. Analysts expected FRO to announce $3.05 per share in earnings in its latest quarter, but it posted $2.15, representing a -29.50% surprise. EBITDA for the quarter stood at more than $149.5 million. FRO stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 2.52 billion, with total debt at $2.33 billion.

Let’s look briefly at Frontline Ltd. (FRO) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 24 January was 56.07% to suggest the stock is trending Neutral, with historical volatility in this time period at 59.21%.

The stock’s 5-day moving average is $13.76, reflecting a -3.04% or -$0.43 change from its current price. FRO is currently trading +10.48% above its 20-day SMA, +15.71% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +2.78% and SMA200 by+44.97%.

Stochastic %K and %D was 81.98% and 80.72% and the average true range (ATR) pointed at 0.62. The RSI (14) points at 54.76%, while the 14-day stochastic is at 77.78% with the period’s ATR at 0.64. The stock’s 9-day MACD Oscillator is pointing at 0.09 and 0.84 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Frontline Ltd. (NYSE: FRO), Jefferies upgraded it to a Buy rating. They previously had a Hold rating on the stock. Analysts offering their rating for FRO stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate FRO as a “sell,”, while 3 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 9 have offered a “buy” rating.

What is FRO’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $16.00 and a high of $27.41, with their median price target at $19.00. Looking at these predictions, the average price target given by analysts is for Frontline Ltd. (FRO) stock is $19.33.

LEAVE A REPLY

Please enter your comment!
Please enter your name here