Frontier Group (NASDAQ:ULCC) Announces Earnings Results, Misses Expectations By $0.03 EPS

Frontier Group (NASDAQ:ULCC - Get Free Report) announced its earnings results on Tuesday. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.03), Briefing.com reports. Frontier Group had a negative net margin of 1.77% and a negative return on equity of 4.09%. The firm had revenue of $935.00 million during the quarter, compared to analyst estimates of $943.30 million. During the same period in the prior year, the business posted ($0.14) EPS. The firm's quarterly revenue was up 5.9% compared to the same quarter last year.

Frontier Group Price Performance

Frontier Group stock traded down $1.05 during mid-day trading on Tuesday, reaching $6.22. 6,071,537 shares of the company were exchanged, compared to its average volume of 2,100,707. The firm has a market cap of $1.40 billion, a PE ratio of -20.93 and a beta of 2.55. The company has a fifty day simple moving average of $4.88 and a 200-day simple moving average of $4.97. Frontier Group has a 12 month low of $2.79 and a 12 month high of $8.33. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.52 and a quick ratio of 0.48.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ULCC shares. JPMorgan Chase & Co. cut shares of Frontier Group from a "neutral" rating to an "underweight" rating in a report on Tuesday, July 30th. Susquehanna raised their price objective on Frontier Group from $3.00 to $5.00 and gave the company a "neutral" rating in a report on Wednesday, October 9th. TD Cowen upped their target price on Frontier Group from $3.00 to $4.00 and gave the stock a "hold" rating in a report on Monday, September 16th. Raymond James raised shares of Frontier Group from an "underperform" rating to a "market perform" rating in a research report on Monday, September 30th. Finally, Barclays cut their price objective on Frontier Group from $7.00 to $6.00 and set an "overweight" rating for the company in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $6.02.

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.