Frontline Plc (NYSE:FRO) has a beta value of 0.11 and has seen 0.72 million shares traded in the recent trading session. The company, currently valued at $4.98B, closed the recent trade at $22.38 per share which meant it lost -$0.85 on the day or -3.68% during that session. The FRO stock price is -9.61% off its 52-week high price of $24.53 and 40.35% above the 52-week low of $13.35. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.9 million shares traded. The 3-month trading volume is 2.39 million shares.
Frontline Plc (NYSE:FRO) trade information
Sporting -3.68% in the red today, the stock has traded in the red over the last five days, when the FRO stock price touched $22.38 or saw a rise of 6.67%. Year-to-date, Frontline Plc shares have moved 11.60%, while the 5-day performance has seen it change -4.13%. Over the past 30 days, the shares of Frontline Plc (NYSE:FRO) have changed -4.95%. Short interest in the company has seen 6.1 million shares shorted with days to cover at 2.57.
Frontline Plc (FRO) estimates and forecasts
Figures show that Frontline Plc shares have outperformed across the wider relevant industry. The company’s shares have gained 32.24% over the past 6 months, with this year growth rate of 6.08%, compared to 5.50% for the industry. Other than that, the company has, however, increased its growth outlook for the 2024 fiscal year revenue. Growth estimates for the current quarter are -13.80% and -41.50% for the next quarter. Revenue growth from the last financial year stood is estimated to be 1.90%.
7 analysts offering their estimates for the company have set an average revenue estimate of $453.07 million for the current quarter. 7 have an estimated revenue figure of $382.84 million for the next quarter concluding in Jun 2024. Year-ago sales stood $497.33 million and $512.76 million respectively for this quarter and the next, and analysts expect sales will shrink by -8.90% for the current quarter and -25.30% for the next.
FRO Dividends
Frontline Plc is expected to release its next earnings report in April this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 2.17 at a share yield of 9.70%. The company’s dividend yield has gone up over the past 12 months.
Frontline Plc (NYSE:FRO)’s Major holders
Insiders own 35.79% of the company shares, while shares held by institutions stand at 33.83% with a share float percentage of 52.69%. Investors are also buoyed by the number of investors in a company, with Frontline Plc having a total of 274 institutions that hold shares in the company. The top two institutional holders are Arrowstreet Capital, Limited Partnership with over 5.36 million shares worth more than $119.52 million. As of Dec 30, 2023, Arrowstreet Capital, Limited Partnership held 2.41% of shares outstanding.
The other major institutional holder is Two Sigma Advisers, LP, with the holding of over 4.06 million shares as of Dec 30, 2023. The firm’s total holdings are worth over $90.54 million and represent 1.82% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Fidelity Advisor Multi-Asset Income Fund and iShares Core MSCI EAFE ETF. As of Jan 30, 2024, the former fund manager holds about 0.46% shares in the company for having 1.03 million shares of worth $22.89 million while later fund manager owns 0.78 million shares of worth $17.42 million as of Jan 30, 2024, which makes it owner of about 0.35% of company’s outstanding stock.
