Frontdoor (NASDAQ:FTDR) Posts Earnings Results, Beats Estimates By $0.33 EPS

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

Frontdoor Trading Up 2.5 %

NASDAQ:FTDR traded up $1.33 during mid-day trading on Tuesday, reaching $54.26. The company’s stock had a trading volume of 290,721 shares, compared to its average volume of 721,901. The company’s fifty day simple moving average is $48.90 and its two-hundred day simple moving average is $41.32. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.27 and a quick ratio of 1.27. Frontdoor has a twelve month low of $29.41 and a twelve month high of $54.35. The stock has a market cap of $4.15 billion, a P/E ratio of 20.47 and a beta of 1.03.

Analyst Upgrades and Downgrades

FTDR has been the subject of a number of research analyst reports. William Blair upgraded Frontdoor from a “market perform” rating to an “outperform” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. increased their price objective on Frontdoor from $45.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. The Goldman Sachs Group increased their price objective on Frontdoor from $33.00 to $41.00 and gave the company a “sell” rating in a research note on Friday, August 2nd. Finally, Truist Financial increased their price objective on Frontdoor from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $48.25.

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.