Brokers Offer Predictions for Frontdoor, Inc.’s Q2 2024 Earnings (NASDAQ:FTDR)

Frontdoor, Inc. (NASDAQ:FTDR) – Equities researchers at William Blair raised their Q2 2024 earnings estimates for Frontdoor in a report issued on Thursday, May 2nd. William Blair analyst J. Schmitt now forecasts that the company will earn $1.00 per share for the quarter, up from their previous estimate of $0.97. The consensus estimate for Frontdoor’s current full-year earnings is $2.39 per share. William Blair also issued estimates for Frontdoor’s Q3 2024 earnings at $0.99 EPS, Q1 2025 earnings at $0.31 EPS, Q2 2025 earnings at $1.08 EPS, Q3 2025 earnings at $1.12 EPS, Q4 2025 earnings at $0.19 EPS and FY2025 earnings at $2.70 EPS.

Frontdoor (NASDAQ:FTDR) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.18. The company had revenue of $366.00 million during the quarter, compared to the consensus estimate of $360.47 million. Frontdoor had a net margin of 10.27% and a return on equity of 132.00%. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.13 earnings per share.

Separately, Wells Fargo & Company increased their price target on Frontdoor from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Frontdoor presently has a consensus rating of “Hold” and an average target price of $40.00.

Frontdoor Stock Performance

NASDAQ FTDR opened at $35.94 on Monday. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 15.76 and a beta of 0.89. Frontdoor has a twelve month low of $28.25 and a twelve month high of $38.97. The stock has a fifty day simple moving average of $31.38 and a 200 day simple moving average of $32.87. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 3.54.

Hedge Funds Weigh In On Frontdoor

Institutional investors and hedge funds have recently made changes to their positions in the stock. Parkside Financial Bank & Trust boosted its position in shares of Frontdoor by 9,892.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,399 shares of the company’s stock worth $49,000 after purchasing an additional 1,385 shares in the last quarter. Financial Management Professionals Inc. bought a new position in Frontdoor in the 4th quarter valued at about $49,000. C M Bidwell & Associates Ltd. bought a new position in Frontdoor in the 4th quarter valued at about $71,000. Quadrant Capital Group LLC lifted its position in Frontdoor by 13.7% in the 4th quarter. Quadrant Capital Group LLC now owns 2,839 shares of the company’s stock valued at $100,000 after acquiring an additional 341 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in Frontdoor in the 3rd quarter valued at about $88,000.

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.