Frontline plc (NYSE:FRO) saw a downside of -0.17% to $17.23 after subtracting -$0.03 on Tuesday. The 5-day average trading volume is 1,618,085 shares of the company’s common stock. It has gained $17.54 in the past week and touched a new high 3 times within the past 5 days. An average of 1,731,686 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 3,278,940.
FRO’s 1-month performance is 14.18% or $1.98 on its low of $14.67 reached on 07/21/23. The company’s shares have touched a 52-week low of $10.10 and high of $19.29, with the stock’s rally to the 52-week high happening on 03/01/23. YTD, FRO has achieved 41.93% or $5.18 and has reached a new high 17 times. However, the current price is down -10.66% from the 52-week high price.
Valuation Metrics
FRO stock has a beta of 0.27. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.24 while the price-to-book (PB) in the most recent quarter is 1.73.
As well, the company’s long term debt to equity for the quarter ending March 30 was 0.91, while the total debt to equity was 1.07. In terms of profitability, the gross margin trailing 12 months is 51.60%. The firm’s gross profit as reported stood at $657.54 million against revenue of $1.44 billion.
Earnings Surprise
For the quarterly period ending March 30 this year, Frontline plc’s cash and short-term investments amounted to $236.28 million against total debt of $2.39 billion. Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 102.34% to $475.54 million, while revenue of $0.0 was 100.0% off the previous quarter. Analysts expected FRO to announce $0.96 per share in earnings in its latest quarter, but it posted $0.87, representing a -9.40% surprise. EBITDA for the quarter stood at more than $296.44 million. FRO stock balance sheet for the quarter ending March 30 shows that total liabilities totaled 2.5 billion, with total debt at $2.39 billion.
Let’s look briefly at Frontline plc (FRO) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 07 August was 74.41% to suggest the stock is trending Overbought, with historical volatility in this time period at 35.09%.
The stock’s 5-day moving average is $17.10, reflecting a +3.71% or $0.62 change from its current price. FRO is currently trading +10.32% above its 20-day SMA, +7.24% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +20.70% and SMA200 by+39.12%.
Stochastic %K and %D was 90.71% and 89.86% and the average true range (ATR) pointed at 0.50. The RSI (14) points at 69.06%, while the 14-day stochastic is at 92.33% with the period’s ATR at 0.51. The stock’s 9-day MACD Oscillator is pointing at 0.52 and 1.07 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Frontline plc (NYSE: FRO), Deutsche Bank upgraded it to a Buy rating. They previously had a Hold rating on the stock.
