Frontdoor (NASDAQ:FTDR – Get Rating) released its earnings results on Thursday. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.04), Briefing.com reports. The firm had revenue of $487.00 million for the quarter, compared to analyst estimates of $476.55 million. Frontdoor had a return on equity of 1,319.15% and a net margin of 7.70%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.76 EPS. Frontdoor updated its Q3 2022 guidance to EPS and its FY 2022 guidance to EPS.
Frontdoor Price Performance
NASDAQ FTDR traded up $0.89 on Friday, reaching $25.96. The company’s stock had a trading volume of 1,602,347 shares, compared to its average volume of 1,182,404. The firm has a market cap of $2.14 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 0.81 and a beta of 0.49. The business has a 50-day moving average price of $24.41 and a 200 day moving average price of $28.86. Frontdoor has a 52 week low of $20.30 and a 52 week 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.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on FTDR shares. Truist Financial downgraded shares of Frontdoor from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $32.00 to $29.00 in a report on Monday, May 23rd. The Goldman Sachs Group downgraded shares of Frontdoor from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $27.00 to $21.00 in a report on Thursday, June 9th. Raymond James dropped their price objective on shares of Frontdoor from $31.00 to $27.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Oppenheimer dropped their price objective on shares of Frontdoor from $41.00 to $34.00 in a report on Friday, May 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $33.50.
Insider Activity at Frontdoor
Institutional Trading of Frontdoor
Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of Frontdoor by 7.1% during the first quarter. BlackRock Inc. now owns 3,755,323 shares of the company’s stock worth $112,096,000 after purchasing an additional 249,371 shares in the last quarter. State Street Corp lifted its position in shares of Frontdoor by 13.9% during the first quarter. State Street Corp now owns 1,401,868 shares of the company’s stock worth $41,846,000 after purchasing an additional 170,968 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Frontdoor during the first quarter worth approximately $4,890,000. First Trust Advisors LP acquired a new position in shares of Frontdoor during the first quarter worth approximately $4,469,000. Finally, Bank of America Corp DE lifted its position in shares of Frontdoor by 31.4% during the first quarter. Bank of America Corp DE now owns 576,777 shares of the company’s stock worth $17,218,000 after purchasing an additional 137,911 shares in the last quarter.
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.
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