In recent trading session, Frontline Plc (NYSE:FRO) saw 0.87 million shares changing hands at last check today with its beta currently measuring 0.07. Company’s recent per share price level of $24.48 trading at $0.02 or 0.08% at last check today assigns it a market valuation of $5.45B. That most recent trading price of FRO’s stock is at a discount of -0.82% from its 52-week high price of $24.68 and is indicating a premium of 45.47% from its 52-week low price of $13.35. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 1.53 million shares which gives us an average trading volume of 2.15 million if we extend that period to 3-months.
Frontline Plc (NYSE:FRO) trade information
Upright in the green today for gaining 0.08%, in the last five days FRO remained trading in the green while hitting it’s week-highest on Friday, 04/12/24 when the stock touched $24.48 price level, adding 2.63% to its value on the day. Frontline Plc’s shares saw a change of 22.09% in year-to-date performance and have moved 2.34% in past 5-day. Frontline Plc (NYSE:FRO) showed a performance of 4.88% in past 30-days. Number of shares sold short was 7.05 million shares which calculate 3.53 days to cover the short interests.
Frontline Plc (FRO) estimates and forecasts
Statistics highlight that Frontline Plc is scoring comparatively higher than the scores of other players of the relevant industry. The company added 21.25% of value to its shares in past 6 months, showing an annual growth rate of 14.45% while that of industry is 10.80. Apart from that, the company came raising its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to decrease by -11.50% in the current quarter and calculating -41.50% decrease in the next quarter. This year revenue growth is estimated to rise 2.30% from the last financial year’s standing.
7 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $453.89 million for the same. And 7 analysts are in estimates of company making revenue of $386.29 million in the next quarter that will end on Jun 2024. Company posted $497.33 million and $512.76 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to shrink by -8.70% while estimating it to be -24.70% for the next quarter.
FRO Dividends
Frontline Plc is more likely to be releasing its next quarterly report in May and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Frontline Plc (NYSE:FRO)’s Major holders
Insiders are in possession of 35.79% of company’s total shares while institution are holding 34.48 percent of that, with stock having share float percentage of 53.70%. Investors also watch the number of corporate investors in a company very closely, which is 34.48% institutions for Frontline Plc that are currently holding shares of the company. Arrowstreet Capital, Limited Partnership is the top institutional holder at FRO for having 5.36 million shares of worth $131.16 million. And as of Dec 30, 2023, it was holding 2.41% of the company’s outstanding shares.
The second largest institutional holder is Two Sigma Advisers, LP, which was holding about 4.06 million shares on Dec 30, 2023. The number of shares represents firm’s hold over 1.82% of outstanding shares, having a total worth of $99.35 million.
On the other hand, Fidelity Advisor Multi-Asset Income Fund and iShares Core MSCI EAFE ETF are the top two Mutual Funds which own company’s shares. As of Feb 28, 2024, the former fund manager was holding 1.17 million shares of worth $28.69 million or 0.53% of the total outstanding shares. The later fund manager was in possession of 0.78 million shares on Jan 30, 2024, making its stake of worth around $19.11 million in the company or a holder of 0.35% of company’s stock.
