Will Frontline Ltd. (NYSE: FRO) In 2022 Be Worth Your Money?

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In the latest trading session, 2.0 million Frontline Ltd. (NYSE:FRO) shares changed hands as the company’s beta touched 0.23. With the company’s most recent per share price at $9.68 changing hands around $0.34 or 3.59% at last look, the market valuation stands at $2.08B. FRO’s current price is a discount, trading about -19.52% off its 52-week high of $11.57. The share price had its 52-week low at $6.10, which suggests the last value was 36.98% up since then. When we look at Frontline Ltd.’s average trading volume, we note the 10-day average is 2.44 million shares, with the 3-month average coming to 2.82 million.

Analysts gave the Frontline Ltd. (FRO) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.10. If we narrow down to specifics, the data shows that 0 out of 11 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 4 recommended FRO as a Hold, 7 felt it is a Buy and 0 rated the stock as Underweight. Frontline Ltd.’s EPS for the current quarter is expected to be $2.74.

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Instantly FRO is in green as seen in intraday trades today. With action -1.68%, the performance over the past five days has been red. The jump to weekly highs of 9.76 on Tuesday, 07/26/22 added 3.59% to the stock’s daily price. The company’s shares are showing year-to-date upside of 32.11%, with the 5-day performance at -1.68% in the red. However, in the 30-day time frame, Frontline Ltd. (NYSE:FRO) is 4.01% up. Looking at the short shares, we see there were 8.24 million shares sold at short interest cover period of 2.84 days.

The consensus price target for the stock as assigned by Wall Street analysts is $12.02, meaning bulls need an upside of 19.47% from its recent market value. According to analyst projections, FRO’s forecast low is $9.00 with $14.57 as the target high. To hit the forecast high, the stock’s price needs a -50.52% plunge from its current level, while the stock would need to tank 7.02% for it to hit the projected low.

Frontline Ltd. (FRO) estimates and forecasts

Data shows that the Frontline Ltd. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 45.26% over the past 6 months, a 367.86% in annual growth rate that is considerably higher than the industry average of 14.60%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2022 revenue estimates. The rating firms predict current quarter revenue for Frontline Ltd. will rise 374.00%, while the growth in revenue is estimated to hit 223.50% for the next quarter. Year-over-year growth is forecast to reach 6.40% up from the last financial year.

Consensus estimates given by 7 financial analysts project the company’s revenue in the current quarter to hit an average of $1.57 billion. 7 analysts are of the opinion that Frontline Ltd.’s revenue for the quarter ending Sep 2022 will be $1.67 billion. The estimates for the next quarter sales put growth at 8.00%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -15.70%. The 2022 estimates are for Frontline Ltd. earnings to decrease by -102.70%.

FRO Dividends

Frontline Ltd. is expected to release its next quarterly earnings report in August. The 12.85% annual yield figure for the share gives it an annual dividend of 1.20. It is important to note, however, that the 12.85% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.

Frontline Ltd. (NYSE:FRO)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 35.87% of Frontline Ltd. shares while 26.95% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 42.03%. There are 26.95% institutions holding the Frontline Ltd. stock share, with Folketrygdfondet the top institutional holder. As of Mar 30, 2022, the company held 5.65% of the shares, roughly 11.5 million FRO shares worth $111.89 million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 3.10% or 6.31 million shares worth $61.4 million as of Mar 30, 2022.

Among Mutual Funds, the top two as of Jun 29, 2022 were iShares Russell 2000 ETF and DFA International Small Cap Value Portfolio. With 2.81 million shares estimated at $27.38 million under it, the former controlled 1.38% of total outstanding shares. On the other hand, DFA International Small Cap Value Portfolio held about 0.78% of the shares, roughly 1.59 million shares worth around $15.47 million.