Frontline plc (NYSE:FRO) finished Thursday with an addition of $0.18 to close at $17.99, an upside of 1.01 percent. An average of 2,325,400 shares of common stock have been traded in the last five days. There was a fall of -$0.09 in the past week, and it reached a new high 27 times over the past 12 months. The last 20 days have seen an average of 1,960,750 shares traded, while the 50-day average volume stands at 2,621,228.
FRO stock has increased by 15.62% in the last month. The company shares reached their 1-month lowest point of $15.31 on 07/26/23. With the stock rallying to its 52-week high on 03/01/23, shares of the company touched a low of $10.10 and a high of $19.29 in 52 weeks. It has reached a new high 17 times so far this year and achieved 48.19% or $5.85 in price. In spite of this, the price is down -6.72% from the 52-week high.
Valuation Metrics
Frontline plc (FRO) has a trailing price-to-earnings (P/E) ratio of 6.05. The stock’s beta is 0.26. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.34, the price-to-book (PB) ratio at 1.80.
The company has a payout ratio of 7.02%. The company’s most recent quarterly dividend payment was $0.70 a share, representing a up of 133.33% from $0.30 last year. Its latest increase dividend $0.40 reported on Wednesday May 31 2023.
Financial Health
Further, the company has a long term debt to equity ratio of 0.91 and a total debt to equity ratio of 1.07 for the quarter ending March 30. Its gross profit as reported stood at $657.54 million compared to revenue of $1.44 billion.
Earnings Surprise
In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $475.54 million in the quarter, while revenues were grew 102.34%. The analyst consensus anticipated Frontline plc’s latest quarter earnings to come in at $0.96 per share, but it turned out to be $0.87, a -9.40% surprise. For the quarter, EBITDA amounted to $296.44 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Frontline plc (FRO) price momentum. RSI 9-day as of the close on 24 August was 71.09%, suggesting the stock is Overbought, with historical volatility in this time frame at 11.07%.
As of today, FRO’s price is $17.96 -0.50% or -$0.09 from its 5-day moving average. FRO is currently trading +15.77% higher than its 20-day SMA and +8.64% higher than its 100-day SMA. However, the stock’s current price level is +19.53% above the SMA50 and +31.60% above the SMA200.
The stochastic %K and %D were 68.88% and 75.54%, respectively, and the average true range (ATR) was 0.52. With the 14-day stochastic at 68.48% and the average true range at 0.50, the RSI (14) stands at 69.68%. The stock has reached 0.01 on the 9-day MACD Oscillator while the 14-day reading was at 0.17.
Analyst Ratings
JP Morgan launched coverage on Frontline plc (NYSE: FRO) in its analyst report released on August 15, 2023. The firm assigned the stock a Neutral rating. The consensus rating for Frontline plc (FRO) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell FRO, while 5 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 10 others rate it as a “buy”.
What is FRO’s price target for the next 12 months?
Analysts predict a range of price targets between $17.00 and $34.00, with a median target of $21.98. Taking a look at these predictions, the average price target given by analysts for Frontline plc (FRO) stock is $22.25.
