Frontier Group (NASDAQ:ULCC) Posts Earnings Results, Beats Estimates By $0.09 EPS

Frontier Group (NASDAQ:ULCC) issued its earnings results on Thursday. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.09, Briefing.com reports. Frontier Group had a positive return on equity of 5.33% and a negative net margin of 0.31%. The company had revenue of $865.00 million during the quarter, compared to the consensus estimate of $859.21 million. During the same period last year, the business posted ($0.06) EPS. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year.

Frontier Group Stock Performance

Shares of ULCC traded down $0.18 on Friday, reaching $5.76. 2,173,964 shares of the company’s stock traded hands, compared to its average volume of 2,290,833. The stock’s 50 day simple moving average is $7.11 and its two-hundred day simple moving average is $5.71. The stock has a market cap of $1.29 billion, a PE ratio of -96.00 and a beta of 2.63. Frontier Group has a 52-week low of $3.19 and a 52-week high of $10.57. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.50.

Insiders Place Their Bets

In related news, CEO Barry Biffle sold 151,620 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $7.72, for a total value of $1,170,506.40. Following the transaction, the chief executive officer now directly owns 772,981 shares of the company’s stock, valued at approximately $5,967,413.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 81.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ULCC shares. UBS Group began coverage on Frontier Group in a research note on Wednesday, March 20th. They issued a “neutral” rating and a $8.00 price objective for the company. Barclays boosted their price target on shares of Frontier Group from $7.00 to $9.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Bank of America reaffirmed a “neutral” rating and issued a $6.00 price objective (down from $8.00) on shares of Frontier Group in a research note on Tuesday, January 9th. Morgan Stanley reissued an “equal weight” rating and set a $8.00 target price (down from $10.00) on shares of Frontier Group in a research report on Monday, January 8th. Finally, Evercore ISI raised their price target on shares of Frontier Group from $7.00 to $8.50 and gave the company an “in-line” rating in a research report on Thursday, April 4th. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $7.28.

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.