Frontline Ltd. (NYSE:FRO) price closed lower on Tuesday, September 14, dropping -0.64% below its previous close.
A look at the daily price movement shows that the last close reads $7.77, with intraday deals fluctuated between $7.67 and $8.05. The company’s 5Y monthly beta was ticking 0.44 while its P/E ratio in the trailing 12-month period read 30.51. Taking into account the 52-week price action we note that the stock hit a 52-week high of $9.21 and 52-week low of $5.28. The stock added 4.32% on its value in the past month.
Frontline Ltd., which has a market valuation of $1.61 billion. The company stock has a Forward Dividend ratio of 2.00, while the dividend yield is 25.91%. It is understandable that investor optimism is growing ahead of the company’s current quarter results. Analysts tracking FRO have forecast the quarterly EPS to shrink by -0.11 per share this quarter, while the same analysts predict the annual EPS to hit $0.2 for the year 2021 and up to $1.36 for 2022.
On average, analysts have forecast the company’s revenue for the quarter will hit $86.18 million, with the likely lows of $66.4 million and highs of $107.5 million. Staying with the analyst view, there is a consensus estimate of $453.75 million for the company’s annual revenue in 2021.
Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give FRO a short term outlook of Hold on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Sell, while an average of long term indicators are currently assigning the stock as Hold.
Here is a look at the average analyst rating for the stock as represented on a scale of 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock is strong buy or strong sell respectively. Specifically, 11 analysts have assigned FRO a recommendation rating as follows: 6 rate it as a Hold; 4 advise Buy while 0 analyst(s) assign an Overweight rating. 0 analyst(s) have tagged the Frontline Ltd. (FRO) stock as Underweight, with 1 recommending Sell. In general, analysts have rated the stock Overweight, a scenario likely to bolster investors out for an opportunity to add to their holdings of the company’s shares.
The overview shows that FRO’s price is at present 2.12% off the SMA20 and -1.40% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 50.94, with weekly volatility standing at 3.81%. The indicator jumps to 3.32% when calculated based on the past 30 days. Frontline Ltd. (NYSE:FRO)’s beta value is holding at 0.40, while the average true range (ATR) indicator is currently reading 0.31. Considering analysts have assigned the stock a price target range of $4.53-$13.47 as the low and high respectively, we find the trailing 12-month average consensus price target to be $8.76. Based on this estimate, we see that current price is roughly 41.32% off the estimated low and -74.48% off the forecast high. Investors will no doubt be excited to see the share price fall to $8.18, which is the median consensus price, and at that level FRO would be -5.96% from current price.
Turning out attention to how the Frontline Ltd. stock has performed in comparison to its peers in the industry, here’s what we find: FRO’s stock is -0.64% on the day and -0.77% in the past 12 months, while Teekay LNG Partners L.P. (TGP) traded -2.52% in the last session and was positioned 48.22% up on its price 12 months ago. Another comparison is with Ardmore Shipping Corporation (ASC) whose stock price was down -2.83% in the last trading session, and has flourished -4.72% over the past year. Also, Teekay Corporation (TK) showed down trend of -4.23% while its price kept floating at 35.46% over the past year. As for Frontline Ltd., the P/E ratio stands at 30.51 higher than that of Teekay LNG Partners L.P.’s at 7.55. Elsewhere in the market, the S&P 500 Index has stumbled -0.57% in last trading session, with the Dow Jones Industrial also saw a negative session on the day with -0.84%.
An analysis of the Frontline Ltd. (NYSE:FRO) stock in terms of its daily trading volume indicates that the 3-month average is 1.22 million. However, this figure increases on the past 10-day timeline to an average of 1.54 million.
Current records show that the company has 197.69M in outstanding shares. The insiders’ percentage holdings are 33.80% of outstanding shares while the percentage share held by institutions stands at 21.10%. The stats also highlight that short interest as of Jul 29, 2021, stood at 4.51 million shares, which puts the short ratio at the time at 3.44. From this we can glean that short interest is 2.28% of company’s current outstanding shares. Notably, we see that shares short in July rose slightly given the previous month’s figure stood at 4.01 million. But the 24.12% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.