Does Frontline Plc (NYSE:FRO) have deteriorating prospects?

The stock of Frontline Plc (NYSE:FRO) last traded at $21.40, down -1.83% from the previous session.

Data from the available sources indicates that Frontline Plc (NYSE:FRO) is covered by 15 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $32.70 and a low of $17.00, we find $23.77. Given the previous closing price of $21.80, this indicates a potential upside of 9.04 percent. FRO stock price is now 11.48% away from the 50-day moving average and 28.08% away from the 200-day moving average. The market capitalization of the company currently stands at $4.76B.

In total, 5 analysts have assigned it a hold rating, and 10 have given it a buy rating. Brokers who have rated the stock have averaged $24.31 as their price target over the next twelve months.

With the price target maintained at $17, Deutsche Bank recently Downgraded its rating from Buy to Hold for Frontline Plc (NYSE: FRO).

A total of 35.70% of the company’s stock is owned by insiders.

With an opening price of $21.75 on Wednesday morning, Frontline Plc (NYSE: FRO) set off the trading day. During the past 12 months, Frontline Plc has had a low of $10.55 and a high of $22.95. As of last week, the company has a debt-to-equity ratio of 1.00, a current ratio of 1.92, and a quick ratio of 1.92. The fifty day moving average price for FRO is $19.20 and a two-hundred day moving average price translates $16.71 for the stock.

The latest earnings results from Frontline Plc (NYSE: FRO) was released for Jun, 2023. According to the Oil & Gas Midstream Company, earnings per share came in at $0.94, beating analysts’ expectations of $0.83 by 0.11. This compares to $0.25 EPS in the same period last year. The net profit margin was 22.67% and return on equity was 13.98% for FRO. The company reported revenue of $522.15 million for the quarter, compared to $300.7 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 73.64 percent. For the current quarter, analysts expect FRO to generate $248.21M in revenue.

Frontline Plc(FRO) Company Profile

Frontline plc, a shipping company, engages in the seaborne transportation of crude oil and oil products worldwide. It owns and operates oil and product tankers. As of December 31, 2022, the company operated a fleet of 70 vessels. It is also involved in the charter, purchase, and sale of vessels. The company was founded in 1985 and is based in Limassol, Cyprus.

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