Frontier Group (NASDAQ:ULCC) Announces Earnings Results, Misses Expectations By $0.03 EPS

Frontier Group (NASDAQ:ULCC) announced its quarterly earnings results on Tuesday. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03), Briefing.com reports. Frontier Group had a negative net margin of 1.77% and a negative return on equity of 4.09%. The company had revenue of $935.00 million during the quarter, compared to analysts’ expectations of $943.30 million. During the same period last year, the firm earned ($0.14) earnings per share. Frontier Group’s revenue was up 5.9% on a year-over-year basis.

Frontier Group Trading Down 4.0 %

Shares of Frontier Group stock opened at $5.99 on Thursday. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -156.13 and a beta of 2.55. Frontier Group has a 52-week low of $2.79 and a 52-week high of $8.33. The company’s 50-day simple moving average is $4.99 and its 200-day simple moving average is $4.98. The company has a quick ratio of 0.48, a current ratio of 0.52 and a debt-to-equity ratio of 0.43.

Insider Activity at Frontier Group

In related news, SVP Steve Schuller sold 10,000 shares of Frontier Group stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $6.00, for a total value of $60,000.00. Following the sale, the senior vice president now directly owns 34,035 shares in the company, valued at $204,210. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 81.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ULCC shares. Evercore ISI upped their target price on Frontier Group from $4.00 to $5.00 and gave the company an “in-line” rating in a research report on Thursday, October 3rd. Raymond James upgraded shares of Frontier Group from an “underperform” rating to a “market perform” rating in a research report on Monday, September 30th. Citigroup upped their price target on shares of Frontier Group from $4.70 to $7.15 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Barclays increased their price target on shares of Frontier Group from $6.00 to $7.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. lowered shares of Frontier Group from a “neutral” rating to an “underweight” rating in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $6.12.

About Frontier Group

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.