Frontier Group (NASDAQ:ULCC) Issues Quarterly Earnings Results

Frontier Group (NASDAQ:ULCC) announced its earnings results on Tuesday. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03), Briefing.com reports. The firm had revenue of $935.00 million for the quarter, compared to analysts’ expectations of $943.30 million. The company’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.14) EPS.

Frontier Group Price Performance

ULCC stock opened at $6.16 on Friday. The stock has a market cap of $1.39 billion, a PE ratio of -151.96 and a beta of 2.55. Frontier Group has a 12 month low of $2.79 and a 12 month high of $8.33. The company has a 50-day moving average price of $5.05 and a 200 day moving average price of $4.99. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.57.

Insiders Place Their Bets

In other news, SVP Steve Schuller sold 10,000 shares of the business’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $6.00, for a total transaction of $60,000.00. Following the completion of the sale, the senior vice president now directly owns 34,035 shares of the company’s stock, valued at approximately $204,210. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 81.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ULCC shares. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Frontier Group from $5.00 to $4.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Citigroup raised their price target on Frontier Group from $4.70 to $7.15 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. cut Frontier Group from a “neutral” rating to an “underweight” rating in a research report on Tuesday, July 30th. Barclays increased their target price on Frontier Group from $6.00 to $7.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Raymond James upgraded Frontier Group from an “underperform” rating to a “market perform” rating in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $6.12.

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.