Frontier Group (NASDAQ:ULCC) Issues Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Frontier Group (NASDAQ:ULCC) issued its earnings results on Thursday. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.09, Briefing.com reports. The company had revenue of $865.00 million for the quarter, compared to the consensus estimate of $859.21 million. Frontier Group had a positive return on equity of 3.53% and a negative net margin of 0.67%. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.06) EPS.

Frontier Group Stock Performance

NASDAQ ULCC opened at $5.76 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.48. The business’s 50 day moving average price is $7.08 and its 200-day moving average price is $5.72. Frontier Group has a fifty-two week low of $3.19 and a fifty-two week high of $10.57.

Insider Buying and Selling at Frontier Group

In other Frontier Group news, CEO Barry Biffle sold 151,620 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $7.72, for a total value of $1,170,506.40. Following the transaction, the chief executive officer now owns 772,981 shares of the company’s stock, valued at approximately $5,967,413.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 81.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ULCC. Evercore ISI raised their price target on Frontier Group from $7.00 to $8.50 and gave the company an “in-line” rating in a report on Thursday, April 4th. TD Cowen reduced their price objective on Frontier Group from $8.00 to $6.50 and set a “hold” rating on the stock in a research note on Friday. Bank of America reaffirmed a “neutral” rating and issued a $6.00 price objective (down previously from $8.00) on shares of Frontier Group in a research note on Tuesday, January 9th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $8.00 price objective (down previously from $10.00) on shares of Frontier Group in a research note on Monday, January 8th. Finally, Barclays lifted their price objective on Frontier Group from $7.00 to $9.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Frontier Group currently has an average rating of “Hold” and a consensus price target of $7.28.

Frontier Group Company Profile

Frontier Group Holdings, Inc, provides low-fare passenger airline services to leisure travelers in the United States and Latin America. The company sells its products through direct distribution channels, including its website, mobile app, and contact centers. As of December 31, 2023, it had a fleet of 136 Airbus single-aisle aircrafts.