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Frontline Plc (FRO) – Don’t Be So Quick to Call it Dead

Frontline Plc (NYSE: FRO) is 21.90% higher on its value in year-to-date trading and has touched a low of $13.35 and a high of $24.53 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 $23.62 in the last trading session, with the day’s gains setting it 0.82%.

Currently trading at $24.44, the stock is 4.94% and 7.04% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.1 million and changing 3.47% at the moment leaves the stock 23.87% off its SMA200. FRO registered 47.58% gain for a year compared to 6-month gain of 36.16%. The firm has a 50-day simple moving average (SMA 50) of $3.65 and a 200-day simple moving average (SMA200) of $7.46.

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The stock witnessed a 8.33% loss in the last 1 month and extending the period to 3 months gives it a 21.23%, and is 7.19% 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 2.12% over the week and 2.28% over the month.

Current P/E ratio is 8.29 and Fwd P/E is 7.00. Profit margin for the company is 36.42%. Distance from 52-week low is 83.07% and -0.39% from its 52-week high. The company has generated returns on investments over the last 12 months (11.99%).

Frontline Plc quarterly earnings per share for the current quarter are estimated at $0.77 with sales reaching $453.07M over the same period.The EPS is expected to grow by 21.81% this year, but quarterly earnings will post 1.90% year-over-year. Quarterly sales are estimated to shrink -8.90% in year-over-year returns.

281 institutions hold shares in Frontline Plc (FRO), with institutional investors hold 53.60% of the company’s shares. The shares outstanding are 222.62M, and float is at 143.15M with Short Float at 4.85%. Institutions hold 34.42% of the Float.

The top institutional shareholder in the company is Two Sigma Advisers, LP with over 3.93 million shares valued at $57.09 million. The investor’s holdings represent 1.76% of the FRO Shares outstanding. As of Jun 29, 2023, the second largest holder is Barclays Plc with 3.83 million shares valued at $55.68 million to account for 1.72% of the shares outstanding. The other top investors are Two Sigma Investments, LP which holds 3.45 million shares representing 1.55% and valued at over $50.13 million, while Renaissance Technologies, LLC holds 1.27% of the shares totaling 2.83 million with a market value of $41.05 million.

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