As of Friday close, Frontline plc’s (NYSE:FRO) stock was up $0.13, moving up 0.73 percent to $18.00. The average number of shares traded per day over the past five days has been 3,002,880 shares. 5 times new highs have been achieved over the past 5 days, with a $1.66 gain in that time frame. In the last twenty days, the average volume was 2,721,110, while in the previous 50 days, it was 2,208,246.
Since last month, FRO stock rose 1.07%. Shares of the company fell to $15.94 on 09/14/23, 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 $10.10. Since the beginning of this year, FRO’s stock price has risen by 48.27% or $5.86, and marked a new high 17 times. However, the stock has declined by -6.67% since its 52-week high.
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Valuation Metrics
Right now, Frontline plc (FRO) has a P/E ratio of about 4.78. The stock’s beta is 0.27. Besides these, the trailing price-to-sales (P/S) ratio of 2.04, the price-to-book (PB) ratio of 1.74.
The latest dividend of $0.80 per share was paid out, which is 14.29% more than last year’s $0.70. On Wednesday August 23 2023, a $0.10 dividend increase was announced.
Financial Health
According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.84, and the total debt-to-equity ratio was 1.00. On the profitability front, the trailing twelve-month gross margin is 56.10% 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 higher net income in the recent quarter than it did in the previous quarter. While analysts expected Frontline plc to report $0.83 quarterly earnings, the actual figure was $0.94 per share, beating the consensus estimate by 13.30%. During the quarter, the company generated $310.07 million in EBITDA. The liabilities of Frontline plc were 2.41 billion at the end of its most recent quarter ended June 29, and its total debt was $2.3 billion.
Technical Picture
This quick technical analysis looks at Frontline plc’s (FRO) price momentum. With a historical volatility rate of 34.44%, the RSI 9-day stood at 65.37% on 22 September.
With respect to its five-day moving average, the current Frontline plc price is up by +10.16% percent or $1.66. At present, FRO shares trade +0.06% above its 20-day simple moving average and +15.46% percent above its 100-day simple moving average. However, the stock is currently trading approximately +13.14% above its SMA50 and +29.31% above its SMA200.
Stochastic coefficient K was 82.71% and Stochastic coefficient D was 66.09%, while ATR was 0.56. Given the Stochastic reading of 83.10% for the 14-day period, the RSI (14) reading has been calculated as 60.61%. As of today, the MACD Oscillator reading stands at 0.76, while the 14-day reading stands at 0.86.
Analyst Ratings
Frontline plc downgraded its rating on Frontline plc (NYSE: FRO) to a Hold in a note to investors on August 25, 2023. The analysts firm previously had a Buy rating on the stock.Frontline plc (FRO) has been rated Overweight by analysts. According to 0 brokerage firms, FRO is a sell, and 5 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 10 recommending it as overweight.
With a median target price of $22.96, the current consensus forecast for the stock is $17.00 – $34.00. Based on these forecasts, analysts predict Frontline plc (FRO) will achieve an average price target of $22.70.
