Frontline Plc (NYSE: FRO) – Time For Strategy Change?

money audit

Frontline Plc (NYSE:FRO) currently has a daily average trading volume of 1.47M but it saw 1233487 shares traded in last market. With a market cap of 5.20B USD, the company’s current market price of $23.34 came falling about -0.68 while comparing to the previous closing price of $23.50. In past 52 weeks, the stock remained buoying in the range of price level as high as $29.39 and as low as $14.67.

Taking a look at 20-day trading activity of Frontline Plc (FRO) gives us an average price of $25.11, while its current price level is -20.59% below from 52-week high level whereas it is 59.10% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $26.04 while that of 200 days or SMA-200 reads an average of $22.82. A closer look into the stock’s movement over the week reveals that its volatility is standing at 1.91% during that period while stretching the period over a month that increases to 2.08%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 34.23 which implies that the stock is in neutral territory.

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The company’s shares got several price updates from the analyst firms in past one month and most recent of them is from the Jefferies which upgraded the stock as “Buy” in its note to investors issued on March 21, 2024, recommending a price target of between $22 and $30 for it. Deutsche Bank upgraded its recommendation for the stock as a “Buy” from “Hold” on January 09, 2024 while assigning a price target range of $17-$26. Deutsche Bank issued its recommendations for the stock as it downgraded the price target for the stock is $17.

Over the week, FRO’s stock price is moving -7.78% down while it is -11.09% when we observe its performance for the past one month. Year-to-date it is 16.41% up and over the past year, the stock is showing an upside performance of 54.67%.

The latest quarterly earnings report issued by the company reported quarterly earnings per share (EPS) of 0.94 beat the consensus estimate of 0.83 for the same. In next quarter, company is expected to be making quarterly sales of $372.23M as analysts are expecting the sales for current fiscal year at $1.78B and seeing the company making $1.85B in sales next year. Moreover, analysts are in estimates of $381.8M for current-quarter revenue.

Currently, Frontline Plc’s total number of outstanding shares is 222.62M. Company’s return on investment (ROI) stands at 10.38% and return on equity (ROE) at 27.73%. It has a price to earnings ratio (P/E ratio) of 8.15 while having a 6.95 of forward P/E ratio. Stock’s beta reads 0.07. Stock has a price to book (P/B) ratio of 2.19 while price to sale or P/S ratio amounts to 2.76. Its return on asset (ROA) is 11.24% on average.

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