Frontier Group (NASDAQ:ULCC) Announces Quarterly Earnings Results

Frontier Group (NASDAQ:ULCC) released its quarterly earnings results on Thursday. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.09, Briefing.com reports. The firm had revenue of $865.00 million during the quarter, compared to the consensus estimate of $859.21 million. Frontier Group had a positive return on equity of 5.33% and a negative net margin of 0.31%. The business’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.06) EPS.

Frontier Group Trading Down 3.0 %

ULCC traded down $0.18 during midday trading on Friday, hitting $5.76. 2,173,964 shares of the company were exchanged, compared to its average volume of 2,290,833. The firm’s 50 day moving average price is $7.11 and its 200-day moving average price is $5.71. Frontier Group has a 1-year low of $3.19 and a 1-year high of $10.57. The firm has a market capitalization of $1.29 billion, a P/E ratio of -96.00 and a beta of 2.63. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.50.

Insider Activity at Frontier Group

In related news, CEO Barry Biffle sold 14,500 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $7.21, for a total value of $104,545.00. Following the transaction, the chief executive officer now owns 63,949 shares in the company, valued at $461,072.29. The transaction was disclosed in a document filed with the SEC, which is available through this link. 81.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ULCC has been the topic of a number of research analyst reports. Morgan Stanley restated an “equal weight” rating and issued a $8.00 price target (down previously from $10.00) on shares of Frontier Group in a research note on Monday, January 8th. TD Cowen cut their price objective on shares of Frontier Group from $8.00 to $6.50 and set a “hold” rating for the company in a research report on Friday. Barclays upped their target price on Frontier Group from $7.00 to $9.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. UBS Group assumed coverage on Frontier Group in a report on Wednesday, March 20th. They set a “neutral” rating and a $8.00 price target for the company. Finally, Susquehanna upped their price objective on Frontier Group from $5.00 to $7.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Frontier Group presently has an average rating of “Hold” and a consensus 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.