Frontdoor (NASDAQ:FTDR) Posts Earnings Results

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

Frontdoor Price Performance

Shares of FTDR stock traded up $2.52 on Wednesday, hitting $57.34. 1,048,423 shares of the company’s stock were exchanged, compared to its average volume of 727,286. Frontdoor has a 12 month low of $29.41 and a 12 month high of $57.49. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.27 and a quick ratio of 1.27. The company has a 50 day moving average of $49.02 and a 200 day moving average of $41.49. The stock has a market cap of $4.39 billion, a P/E ratio of 18.64 and a beta of 1.03.

Wall Street Analysts Forecast Growth

A number of research firms have commented on FTDR. Truist Financial raised their price objective on Frontdoor from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday. The Goldman Sachs Group boosted their price target on Frontdoor from $41.00 to $46.00 and gave the company a “sell” rating in a research note on Tuesday. JPMorgan Chase & Co. upped their price objective on shares of Frontdoor from $45.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Finally, William Blair raised shares of Frontdoor from a “market perform” rating to an “outperform” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $49.50.

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.