The stock of Frontline plc (NYSE:FRO) decreased by -$0.28 on Monday to $18.10, down -1.50 percent. The last five days have seen an average of 2,374,603 shares of common stock traded. 17 times new highs were reached in the current year, with a gain of $6.05. The average number of shares traded over the last 20 days was 1,915,141, while the average volume over the last 50 days totaled 2,498,446.
FRO stock appreciated 12.59% since last month. On 08/02/23, the company’s shares reached a one-month low of $16.16. The stock touched a high of $19.29 on 03/01/23, after rallying from a low of $10.10 in 52 weeks. The price of FRO stock has risen by 49.14% or $6.05 this year, reaching a new high 17 times. Still, the stock price is down -6.13% from the 52-week high.
Valuation Metrics
Frontline plc (FRO) has a trailing price-to-earnings (P/E) ratio of 4.81. Beta for the stock is 0.25. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 2.05, the price-to-book (PB) ratio of 1.75.
Company paid $0.80 per share in dividends, an increase of 14.29% from $0.70 last year. A $0.10 dividend increase was reported on Wednesday August 23 2023.
Financial Health
For the three months ended June 29, Frontline plc’s current ratio was 1.90. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.84, and the total debt to equity ratio is 1.00. As far as profitability goes, gross margin for the trailing twelve months is 56.10% percent. Based on annual data, it had gross profit of $657.54 million and revenue of $1.44 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. There was a 9.60% return on investment (ROI) in the past year.
Earnings Surprise
According to Frontline plc’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. It was predicted that Frontline plc’s quarterly earnings would be $0.94, but it ended up being $0.83, beating the consensus by 13.30%. EBITDA was $310.07 million for the quarter. At the end of Frontline plc’s most recent quarter ended June 29, its liabilities totaled 2.41 billion, while its total debt was $2.3 billion.
Technical Picture
Here’s a quick look at Frontline plc’s (FRO) price momentum from a technical perspective. As of 25 August, the RSI 9-day stood at 68.92%, suggesting the stock is Neutral, with a 16.26% historical volatility rate.
The stochastic %K and %D were 74.49% and 72.36% respectively, while the average true range (ATR) was 0.54. Based on the 14-day stochastic reading of 67.63%, the RSI (14) reading is 68.86%. On the 9-day MACD Oscillator, the stock is at 0.16, and the 14-day reading is at 0.31.
Analyst Ratings
Frontline plc (NYSE: FRO) was downgraded by Deutsche Bank to a a Hold rating in its latest research report. The stock was previously rated as a a Buy. Analysts have assigned Frontline plc (FRO) an Overweight rating. FRO is a stock that is recommended for selling by 0 brokerage firms, while 5 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 10 others recommend it as a buy.
What is FRO’s price target for the next 12 months?
The current consensus forecast for the stock is between $17.00 and $34.00, with a median target price of $22.96. In analyzing these forecasts, the average price target given by analysts for Frontline plc (FRO) is $22.70.
