Frontier Group (NASDAQ:ULCC) Announces Earnings Results, Beats Estimates By $0.03 EPS

Frontier Group (NASDAQ:ULCC) released its earnings results on Thursday. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.03, Briefing.com reports. Frontier Group had a negative net margin of 0.67% and a positive return on equity of 3.62%. The business had revenue of $973.00 million for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the business earned $0.31 earnings per share. Frontier Group’s revenue for the quarter was up .6% on a year-over-year basis.

Frontier Group Stock Performance

ULCC traded down $0.07 during trading hours on Friday, hitting $3.11. The stock had a trading volume of 1,385,123 shares, compared to its average volume of 2,009,935. The stock has a market cap of $696.52 million, a PE ratio of -26.33 and a beta of 2.50. Frontier Group has a 1 year low of $2.97 and a 1 year high of $8.33. The company has a quick ratio of 0.46, a current ratio of 0.50 and a debt-to-equity ratio of 0.49. The company’s fifty day simple moving average is $4.51 and its 200 day simple moving average is $5.91.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Raymond James downgraded shares of Frontier Group from a “market perform” rating to an “underperform” rating in a research report on Friday, July 5th. Barclays lowered their target price on shares of Frontier Group from $9.00 to $7.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. TD Cowen cut their price target on Frontier Group from $6.50 to $4.00 and set a “hold” rating for the company in a research note on Wednesday, July 17th. Citigroup lowered their price objective on Frontier Group from $7.00 to $5.35 and set a “neutral” rating for the company in a research note on Wednesday, July 17th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Frontier Group from $5.00 to $4.00 and set a “hold” rating for the company in a research report on Friday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Frontier Group currently has an average rating of “Hold” and a consensus target price of $6.34.

Frontier Group Company Profile

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.