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

Frontier Group (NASDAQ:ULCC) posted its quarterly earnings data on Thursday. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.09, Briefing.com reports. The firm had revenue of $865.00 million during the quarter, compared to the consensus estimate of $859.21 million. Frontier Group had a positive return on equity of 5.33% and a negative net margin of 0.31%. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.06) EPS.

Frontier Group Trading Down 3.0 %

NASDAQ:ULCC traded down $0.18 on Friday, reaching $5.76. The stock had a trading volume of 2,173,964 shares, compared to its average volume of 2,290,833. The company has a market cap of $1.29 billion, a price-to-earnings ratio of -96.00 and a beta of 2.63. Frontier Group has a 12-month low of $3.19 and a 12-month high of $10.57. 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 firm’s fifty day moving average is $7.11 and its two-hundred day moving average is $5.71.

Analysts Set New Price Targets

A number of research firms recently weighed in on ULCC. Bank of America reiterated a “neutral” rating and issued a $6.00 price objective (down from $8.00) on shares of Frontier Group in a research report on Tuesday, January 9th. Evercore ISI raised their price objective on shares of Frontier Group from $7.00 to $8.50 and gave the company an “in-line” rating in a research report on Thursday, April 4th. TD Cowen dropped their target price on Frontier Group from $8.00 to $6.50 and set a “hold” rating on the stock in a research report on Friday. Susquehanna increased their target price on Frontier Group from $5.00 to $7.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $8.00 price target (down from $10.00) on shares of Frontier Group in a research note on Monday, January 8th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $7.28.

Insider Activity

In other news, CEO Barry Biffle sold 151,620 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $7.72, for a total transaction of $1,170,506.40. Following the sale, the chief executive officer now owns 772,981 shares in the company, valued at $5,967,413.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 81.50% of the company’s stock.

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.