At the last check on Friday, Frontline plc’s (NYSE:FRO) stock was up $0.08, moving up 0.46 percent to $17.29. The average number of shares traded per day over the past five days has been 1,933,065 shares. 3 times new highs have been achieved over the past 5 days, with a $1.21 gain in that time frame. In the last twenty days, the average volume was 1,798,896, while in the previous 50 days, it was 3,309,901.
Since last month, FRO stock rose 17.14%. Shares of the company fell to $14.59 on 07/06/23, the lowest level in the past month. A 52-week high of $19.29 was reached on 03/01/23 after having rallying from a 52-week low of $10.00. Since the beginning of this year, FRO’s stock price has risen by 42.42% or $5.15, and marked a new high 17 times. However, the stock has declined by -10.35% since its 52-week high.
Top 5 AI Stocks to Buy for 2023
The artificial intelligence (AI) revolution is already here. And it's about to change everything we know about everything.
According to Grand View Research, the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030. And investors like you always want to get in on the hottest stocks of tomorrow. Here are five of the best ways to profit from the AI boom.
Click Here to Download the FREE Report.
Sponsored
Valuation Metrics
Right now, Frontline plc (FRO) has a P/E ratio of about 5.81. The stock’s beta is 0.27. Besides these, the trailing price-to-sales (P/S) ratio of 2.18, the price-to-book (PB) ratio of 1.73.
The latest dividend of $0.70 per share was paid out, which is 133.33% more than last year’s $0.30. On Wednesday May 31 2023, a $0.40 dividend increase was announced.
Financial Health
According to company report, the long-term debt-to-equity ratio for the quarter ending March 30 was 0.91, and the total debt-to-equity ratio was 1.07. On the profitability front, the trailing twelve-month gross margin is 51.60% percent. Based on annual data, FRO earned $657.54 million in gross profit and brought in $1.44 billion in revenue.
According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. While analysts expected Frontline plc to report $0.96 quarterly earnings, the actual figure was $0.87 per share, beating the consensus estimate by -9.40%. During the quarter, the company generated $296.44 million in EBITDA. The liabilities of Frontline plc were 2.5 billion at the end of its most recent quarter ended March 30, and its total debt was $2.39 billion.
Technical Picture
This quick technical analysis looks at Frontline plc’s (FRO) price momentum. With a historical volatility rate of 38.41%, the RSI 9-day stood at 73.99% on 03 August.
With respect to its five-day moving average, the current Frontline plc price is up by +7.52% percent or $1.21. At present, FRO shares trade +12.71% above its 20-day simple moving average and -1.54% percent below its 100-day simple moving average. However, the stock is currently trading approximately +20.40% above its SMA50 and +38.43% above its SMA200.
Stochastic coefficient K was 87.82% and Stochastic coefficient D was 86.73%, while ATR was 0.52. Given the Stochastic reading of 91.29% for the 14-day period, the RSI (14) reading has been calculated as 68.78%. As of today, the MACD Oscillator reading stands at 0.61, while the 14-day reading stands at 1.11.
Analyst Ratings
Deutsche Bank upgraded its rating on Frontline plc (NYSE: FRO) to a Buy in a note to investors on June 30, 2023. The analysts firm previously had a Hold rating on the stock.Frontline plc (FRO) has been rated Buy by analysts. According to 0 brokerage firms, FRO is a sell, and 3 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Frontline plc stock as buy, with 11 recommending it as overweight.
With a median target price of $21.54, the current consensus forecast for the stock is $17.00 – $302.00. Based on these forecasts, analysts predict Frontline plc (FRO) will achieve an average price target of $43.32.
