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Will Frontline Ltd. (FRO) Future Potential Be Hindered By Price Volatility?

Frontline Ltd. (NYSE:FRO) has a beta value of 0.36 and has seen 0.87 million shares traded in the recent trading session. The company, currently valued at $2.95B, closed the recent trade at $13.28 per share which meant it lost -$0.42 on the day or -3.03% during that session. The FRO stock price is -11.82% off its 52-week high price of $14.85 and 53.09% above the 52-week low of $6.23. If we look at the company’s 10-day average daily trading volume, we find that it stood at 7.85 million shares traded. The 3-month trading volume is 5.02 million shares.

The consensus among analysts is that Frontline Ltd. (FRO) is an Overweight stock at the moment, with a recommendation rating of 2.50. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 3 out of 12 have rated it as a Hold, with 9 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $4.69.

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Frontline Ltd. (NYSE:FRO) trade information

Sporting -3.03% in the red today, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 01/24/23 when the FRO stock price touched $13.28 or saw a rise of 6.02%. Year-to-date, Frontline Ltd. shares have moved 12.85%, while the 5-day performance has seen it change -3.04%. Over the past 30 days, the shares of Frontline Ltd. (NYSE:FRO) have changed 7.11%. Short interest in the company has seen 11.99 million shares shorted with days to cover at 3.23.

Wall Street analysts have a consensus price target for the stock at $19.33, which means that the shares’ value could jump 31.3% from the levels at last check today. The projected low price target is $16.00 while the price target rests at a high of $27.41. In that case, then, we find that the latest price level in today’s session is -106.4% off the targeted high while a plunge would see the stock gain -20.48% from the levels at last check today.

Frontline Ltd. (FRO) estimates and forecasts

Figures show that Frontline Ltd. shares have outperformed across the wider relevant industry. The company’s shares have gained 45.90% over the past 6 months, with this year growth rate of 657.14%, compared to 12.20% for the industry. Other than that, the company has, however, increased its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 406.50% and 4,447.10% for the next quarter. Revenue growth from the last financial year stood is estimated to be 13.70%.

7 analysts offering their estimates for the company have set an average revenue estimate of $2.24 billion for the current quarter. 7 have an estimated revenue figure of $2.73 billion for the next quarter concluding in Dec 2022. Year-ago sales stood $1.54 billion and $1.87 billion respectively for this quarter and the next, and analysts expect sales will grow by 44.90% for the current quarter and 46.00% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -15.70% over the past 5 years.

FRO Dividends

Frontline Ltd. is expected to release its next earnings report in February this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.15 at a share yield of 1.09%. The company’s dividend yield has gone up over the past 12 months.

Frontline Ltd. (NYSE:FRO)’s Major holders

Insiders own 35.87% of the company shares, while shares held by institutions stand at 36.84% with a share float percentage of 57.44%. Investors are also buoyed by the number of investors in a company, with Frontline Ltd. having a total of 230 institutions that hold shares in the company. The top two institutional holders are Folketrygdfondet with over 10.74 million shares worth more than $95.16 million. As of Jun 29, 2022, Folketrygdfondet held 4.82% of shares outstanding.

The other major institutional holder is Blackrock Inc., with the holding of over 6.35 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $56.3 million and represent 2.85% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are iShares Russell 2000 ETF and Vanguard International Stock Index-Total Intl Stock Indx. As of Sep 29, 2022, the former fund manager holds about 1.22% shares in the company for having 2.71 million shares of worth $29.58 million while later fund manager owns 1.62 million shares of worth $15.56 million as of Jul 30, 2022, which makes it owner of about 0.73% of company’s outstanding stock.

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