Frontdoor (NASDAQ:FTDR) Issues Quarterly Earnings Results

Frontdoor (NASDAQ:FTDR) announced its earnings results on Monday. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.33, Briefing.com reports. The company had revenue of $540.00 million for the quarter, compared to analysts’ expectations of $541.88 million. Frontdoor had a net margin of 11.38% and a return on equity of 132.94%. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.94 EPS. Frontdoor updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

Frontdoor Trading Up 2.6 %

FTDR traded up $1.37 on Tuesday, hitting $54.30. The company had a trading volume of 368,611 shares, compared to its average volume of 722,079. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 2.66. The firm has a market cap of $4.16 billion, a P/E ratio of 20.80 and a beta of 1.03. The company’s fifty day moving average price is $48.90 and its 200 day moving average price is $41.32. Frontdoor has a 1 year low of $29.41 and a 1 year high of $54.42.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FTDR. The Goldman Sachs Group boosted their price target on shares of Frontdoor from $41.00 to $46.00 and gave the company a “sell” rating in a research report on Tuesday. Truist Financial boosted their price objective on shares of Frontdoor from $56.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday. William Blair upgraded shares of Frontdoor from a “market perform” rating to an “outperform” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Frontdoor from $45.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $49.50.

About Frontdoor

Frontdoor, Inc provides home warranties in the United States in the United States. Its customizable home warranties help customers protect and maintain their homes from costly and unplanned breakdowns of essential home systems and appliances. The company’s home warranty customers subscribe to an annual service plan agreement that covers 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 heating, ventilation, and air conditioning systems.