Oppenheimer Research Analysts Lower Earnings Estimates for Frontdoor, Inc. (NASDAQ:FTDR)

Frontdoor, Inc. (NASDAQ:FTDRGet Rating) – Equities research analysts at Oppenheimer lowered their Q4 2022 earnings per share estimates for Frontdoor in a research note issued to investors on Tuesday, August 2nd. Oppenheimer analyst I. Zaffino now anticipates that the company will earn $0.17 per share for the quarter, down from their prior forecast of $0.21. The consensus estimate for Frontdoor’s current full-year earnings is $1.35 per share. Oppenheimer also issued estimates for Frontdoor’s FY2023 earnings at $2.41 EPS.

FTDR has been the topic of a number of other reports. The Goldman Sachs Group downgraded shares of Frontdoor from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $27.00 to $21.00 in a research note on Thursday, June 9th. Truist Financial downgraded shares of Frontdoor from a “buy” rating to a “hold” rating and dropped their price target for the stock from $32.00 to $29.00 in a research note on Monday, May 23rd. Finally, Raymond James dropped their price target on shares of Frontdoor from $31.00 to $27.00 and set an “outperform” rating on the stock in a research note on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Frontdoor presently has an average rating of “Hold” and a consensus target price of $33.50.

Frontdoor Trading Up 3.6 %

NASDAQ FTDR opened at $25.96 on Thursday. Frontdoor has a 1-year low of $20.30 and a 1-year high of $48.66. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 304.00. The company has a market capitalization of $2.14 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 0.81 and a beta of 0.49. The firm’s fifty day simple moving average is $24.43 and its 200-day simple moving average is $28.79.

Frontdoor (NASDAQ:FTDRGet Rating) last released its earnings results on Thursday, August 4th. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.04). The business had revenue of $487.00 million during the quarter, compared to analysts’ expectations of $476.55 million. Frontdoor had a net margin of 7.70% and a return on equity of 1,319.15%. Frontdoor’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.76 EPS.

Institutional Investors Weigh In On Frontdoor

Hedge funds and other institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp bought a new stake in shares of Frontdoor in the fourth quarter valued at about $98,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Frontdoor in the fourth quarter valued at about $10,690,000. State of New Jersey Common Pension Fund D lifted its stake in shares of Frontdoor by 17.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 74,957 shares of the company’s stock valued at $2,747,000 after buying an additional 11,177 shares during the period. Dupont Capital Management Corp bought a new stake in shares of Frontdoor in the fourth quarter valued at about $780,000. Finally, Robeco Institutional Asset Management B.V. bought a new stake in shares of Frontdoor in the fourth quarter valued at about $175,000.

Insiders Place Their Bets

In other Frontdoor news, Director William C. Cobb bought 10,000 shares of the stock in a transaction on Monday, May 23rd. The shares were purchased at an average cost of $25.51 per share, with a total value of $255,100.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $255,100. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Frontdoor news, Director William C. Cobb purchased 10,000 shares of the stock in a transaction dated Monday, May 23rd. The shares were bought at an average cost of $25.51 per share, with a total value of $255,100.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at approximately $255,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anna C. Catalano purchased 4,000 shares of the stock in a transaction dated Wednesday, May 25th. The stock was acquired at an average cost of $25.00 per share, for a total transaction of $100,000.00. Following the completion of the transaction, the director now owns 20,595 shares of the company’s stock, valued at approximately $514,875. The disclosure for this purchase can be found here. Company insiders own 0.68% of the company’s stock.

About Frontdoor

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Frontdoor, Inc provides home service plans in the United States. The company's home service plans cover the repair or replacement of principal components of approximately 20 home systems and appliances, including electrical, plumbing, water heaters, refrigerators, dishwashers, and ranges/ovens/cooktops, as well as electronics, pools, and spas and pumps; and central heating, ventilation, and air conditioning systems.

Further Reading

Earnings History and Estimates for Frontdoor (NASDAQ:FTDR)

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