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Why Frontline Ltd. (FRO) Stock Could See Much Higher Prices Ahead

Frontline Ltd. (NYSE: FRO) is 20.26% higher on its value in year-to-date trading and has touched a low of $5.28 and a high of $11.33 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The FRO stock was last observed hovering at around $7.23 in the last trading session, with the day’s gains setting it 0.25% off its average median price target of $7.99 for the next 12 months. It is also 22.08% off the consensus price target high of $9.60 offered by 13 analysts, but current levels are -58.81% lower than the price target low of $4.71 for the same period.

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Currently trading at $7.48, the stock is 3.18% and 1.92% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.18 million and changing 3.46% at the moment leaves the stock 6.74% off its SMA200. FRO registered -28.56% loss for a year compared to 6-month gain of 22.62%. The firm has a 50-day simple moving average (SMA 50) of $7.43 and a 200-day simple moving average (SMA200) of $6.73.

The stock witnessed a 2.61% loss in the last 1 month and extending the period to 3 months gives it a 26.57%, and is 0.27% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.75% over the week and 3.23% over the month.

Frontline Ltd. (FRO) has around 84 employees, a market worth around $1.49B and $1.22B in sales. Current P/E ratio is 3.58 and Fwd P/E is 7.61. Profit margin for the company is 33.80%. Distance from 52-week low is 41.67% and -33.98% from its 52-week high. The company has generated returns on investments over the last 12 months (13.30%).

Frontline Ltd. (FRO) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Frontline Ltd. (FRO) is a “Hold”. 13 analysts offering their recommendations for the stock have an average rating of 2.20, where 11 rate it as a Hold and 0 think it is a “Overweight”. 1 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Frontline Ltd. is expected to release its quarterly report on 08/31/2021 and quarterly earnings per share for the current quarter are estimated at $0.32 with sales reaching $184.43M over the same period.The EPS is expected to grow by 167.40% this year, but quarterly earnings will post 75.70% year-over-year. Quarterly sales are estimated to grow 95.90% in year-over-year returns.

Frontline Ltd. (FRO) Top Institutional Holders

204 institutions hold shares in Frontline Ltd. (FRO), with 98.31M shares held by insiders accounting for 49.73% while institutional investors hold 49.06% of the company’s shares. The shares outstanding are 197.71M, and float is at 99.52M with Short Float at 6.76%. Institutions hold 24.66% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 6.3 million shares valued at $39.16 million. The investor’s holdings represent 3.18% of the FRO Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 3.06 million shares valued at $19.0 million to account for 1.55% of the shares outstanding. The other top investors are Northern Trust Corporation which holds 2.8 million shares representing 1.42% and valued at over $17.42 million, while State Street Corporation holds 1.03% of the shares totaling 2.03 million with a market value of $12.62 million.

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Frontline Ltd. (FRO): Who are the competitors?

The company’s main competitors (and peers) include Teekay LNG Partners L.P. (TGP) that is trading 29.21% up over the past 12 months. Teekay Corporation (TK) is -19.00% down on the 1-year trading charts. Short interest in the company’s stock has fallen -13.68% from the last report on Apr 14, 2021 to stand at a total of 6.73 million short shares sold with a short interest ratio of 3.

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