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Frontline plc (NYSE: FRO) Rose 48.1% From Its 52-Week Low, But YTD Numbers Rise 19.19%. Here’s What You Need To Know At This Time

During the recent session, Frontline plc (NYSE:FRO)’s traded shares were 0.93 million, with the beta value of the company hitting 0.24. At the last check today, the stock’s price was $14.47, reflecting an intraday gain of 1.26% or $0.18. The 52-week high for the FRO share is $19.29, that puts it down -33.31 from that peak though still a striking 48.1% gain since the share price plummeted to a 52-week low of $7.51. The company’s market capitalization is $3.12B, and the average intraday trading volume over the past 10 days was 2.46 million shares, and the average trade volume was 2.80 million shares over the past three months.

Frontline plc (FRO) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.60. FRO has a Sell rating from 0 analyst(s) out of 12 analysts who have looked at this stock. 4 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 8 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.96.

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Frontline plc (NYSE:FRO) trade information

Frontline plc (FRO) registered a 1.26% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 1.26% in intraday trading to $14.47 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is -0.14%, and it has moved by -4.87% in 30 days. Based on these gigs, the overall price performance for the year is 50.89%. The short interest in Frontline plc (NYSE:FRO) is 8.33 million shares and it means that shorts have 3.54 day(s) to cover.

The consensus price target of analysts on Wall Street is $22.04, which implies an increase of 34.35% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $16.01 and $34.00 respectively. As a result, FRO is trading at a discount of -134.97% off the target high and -10.64% off the low.

Frontline plc (FRO) estimates and forecasts

Statistics show that Frontline plc has outperformed its competitors in share price, compared to the industry in which it operates. Frontline plc (FRO) shares have gone up 2.05% during the last six months, with a year-to-date growth rate more than the industry average at 91.77% against -18.40. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 9,700.00% this quarter and then jump 228.60% in the quarter after that. In the rating firms’ projections, revenue will decrease -17.40% compared to the previous financial year.

Revenue for the current quarter is expected to be $356.5 million as predicted by 7 analyst(s). Meanwhile, a consensus of 7 analyst(s) estimates revenue growth to $264.23 million by the end of Jun 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $101.89 million and $154.21 million respectively. In this case, analysts expect current quarter sales to grow by 249.90% and then jump by 71.30% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 27.90%. While earnings are projected to return 80.40% in 2023.

FRO Dividends

Frontline plc is due to release its next quarterly earnings in June. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Frontline plc is 1.22, with the dividend yield indicating at 8.54 percent, continuing the trend of increasing dividends in recent years.

Frontline plc (NYSE:FRO)’s Major holders

Frontline plc insiders own 35.87% of total outstanding shares while institutional holders control 53.00%, with the float percentage being 82.64%. Blackrock Inc. is the largest shareholder of the company, while 245 institutions own stock in it. As of Mar 30, 2023, the company held over 6.25 million shares (or 2.81% of all shares), a total value of $103.5 million in shares.

The next largest institutional holding, with 6.05 million shares, is of Barclays Plc’s that is approximately 2.72% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $100.14 million.

Also, the Mutual Funds coming in first place with the largest holdings of Frontline plc (FRO) shares are iShares Russell 2000 ETF and iShares Russell 2000 Value ETF. Data provided on Feb 27, 2023 indicates that iShares Russell 2000 ETF owns about 2.73 million shares. This amounts to just over 1.23 percent of the company’s overall shares, with a $51.51 million market value. The same data shows that the other fund manager holds slightly less at 1.26 million, or about 0.57% of the stock, which is worth about $23.88 million.

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