Frontline Ltd (NYSE:FRO)
May 14th, 2019
With markets going up Frontline Ltd finished up $0.87 Tuesday which equals a 11.45% jump, closing at $8.47. Furthermore it hit a new 52 week high of $8.48. In addition to finishing higher, trading volumes were solid at 259.00% of normal which can indicate investors see opportunities. Be aware that the Altman Z-Score1 (An indicator of the probability for a 2-year bankruptcy) is below the recommended threshold of 1.8%, and calculated to be 0.62.
FRO outperformed the rest of the Energy sector which went up 1.09% today.
Expectations from 6 analysts suggest that Frontline Ltd might decline somewhat (-13.90%), while Finbox has calculated (with high uncertainty) a fair value price of $7.36.
The market sectors were mixed Tuesday with a majority of the sectors trending up. Information Technology saw the biggest increase of the day (1.60%), while Utilities saw the biggest drop (-0.87%). Information Technology has seen the biggest year-to-date gain at 18.05%.
Information Technology saw the biggest turnaround from its 5-day performance of -6.38%, as it went up 1.60%. Utilities saw a turn around from its 5-day performance of 1.03% trading down -0.87%.
- Information Technology went up with a 1.60% change.
- Energy went up with a 1.09% change.
- Industrials went up with a 1.07% change.
- Consumer Discretionary went up with a 0.87% change.
- Materials went up with a 0.82% change.
- Financials went up with a 0.80% change.
- Healthcare went up with a 0.41% change.
- Consumer Staples went up with a 0.37% change.
- Real Estate went up with a 0.35% change.
- Communication Services went up with a 0.24% change.
- Utilities went down with a -0.87% change.
Frontline Ltd Info
Frontline Ltd., 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, 2018, the company’s fleet consisted of 61 vessels, which included very large crude carrier, Suezmax, and LR2/Aframax tankers with an aggregate capacity of approximately 11.6 million deadweight ton. It is also involved in the charter, purchase, and sale of vessels. The company is based in Hamilton, Bermuda.
All amounts in USD unless otherwise indicated
(1) The Altman Z-Score calculation was first published in 1968 by Edward I. Altman, and is used for predicting the probability that a firm will go into bankruptcy within two years. An Altman Z-Score below 1.8 (Remember that Frontline Ltd’s score is 0.62) is the trigger to be alert for this situation. Some analysts believe this score is less relevant for some companies, in particular companies operating to accumulate users that may run at huge losses to scale up.
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