Frontline Ltd. (NYSE: FRO) stock fell -0.39% on Friday to $10.31 against a previous-day closing price of $10.35. With 1.8 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.87 million shares. During the session, the Oil & Gas Midstream company that operates in wider Energy sector, reached to the highest price of $10.49 whereas the lowest price it dropped to was $10.16. The 52-week range on FRO shows that it touched its highest point at $11.57 and its lowest point at $6.10 during that stretch. With its current market cap of 2.27 billion, FRO has annualized dividend of $1.20 while the current yield stands at 11.64%. Beta for the stock currently stands at 0.23.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of FRO was up-trending over the past week, with a rise of 3.83%, but this was up by 16.63% over a month. Three-month performance surged to 22.01% while six-month performance rose 51.62%. The stock gained 31.51% in the past year, while it has gained 45.83% so far this year. A look at the trailing 12-month EPS for FRO yields -0.05 with Next year EPS estimates of 1.67. For the next quarter, that number is 0.29. This implies an EPS growth rate of -102.70% for this year and 71.87% for next year.
Float and Shares Shorts:
At present, 203.53 million FRO shares are outstanding with a float of 142.78 million shares on hand for trading. On Jul 14, 2022, short shares totaled 8.24 million, which was 3.70% higher than short shares on Jun 14, 2022. In addition to Ms. Inger Marie Klemp as the firm’s Chief Financial Officer of Frontline Management AS, Mr. Lars H. Barstad serves as its Chief Exec. Officer of Frontline Management AS.
Through their ownership of 27.09% of FRO’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 15.55% of FRO, in contrast to 10.63% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in FRO with 5.65% of the stake, Folketrygdfondet holds 11,499,940 shares worth 11,499,940. A second-largest stockholder of FRO, BlackRock Fund Advisors, holds 5,376,315 shares, controlling over 2.64% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in FRO, holding 3,588,694 shares or 1.76% stake. With a 1.38% stake in FRO, the iShares Russell 2000 ETF is the largest stakeholder. A total of 2,814,662 shares are owned by the mutual fund manager. The DNB Norge IV, which owns about 0.86% of FRO stock, is the second-largest Mutual Fund holder. It holds 1,754,237 shares valued at 15.54 million. DFA International Small Cap Value holds 0.78% of the stake in FRO, owning 1,590,340 shares worth 14.09 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for FRO since 11 analysts follow the stock currently. There are 7 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 4 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With FRO analysts setting a high price target of $14.57 and a low target of $9.00, the average target price over the next 12 months is $11.99. Based on these targets, FRO could surge 41.32% to reach the target high and fall by -12.71% to reach the target low. Reaching the average price target will result in a growth of 16.29% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. FRO will report FY 2022 earnings on 02/28/2023. Analysts have provided yearly estimates in a range of $1.77 being high and $0.25 being low. For FRO, this leads to a yearly average estimate of $1.13. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Frontline Ltd. surprised analysts by $0.16 when it reported $0.15 EPS against a consensus estimate of -$0.01. The surprise factor in the prior quarter was $0.08. Based on analyst estimates, the high estimate for the next quarter is $0.33 and the low estimate is $0.11. The average estimate for the next quarter is thus $0.25.