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

Frontier Group (NASDAQ:ULCC) posted its earnings results on Tuesday. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03), Briefing.com reports. The business had revenue of $935.00 million during the quarter, compared to the consensus estimate of $943.30 million. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.14) earnings per share.

Frontier Group Trading Down 2.6 %

Shares of ULCC opened at $6.08 on Friday. Frontier Group has a 1 year low of $2.79 and a 1 year high of $8.33. The company has a 50 day simple moving average of $5.05 and a two-hundred day simple moving average of $4.99. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.53 and a quick ratio of 0.48. The firm has a market cap of $1.37 billion, a P/E ratio of -151.96 and a beta of 2.55.

Analyst Ratings Changes

Several brokerages have recently weighed in on ULCC. JPMorgan Chase & Co. cut shares of Frontier Group from a “neutral” rating to an “underweight” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Frontier Group from $5.00 to $4.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Citigroup upped their price objective on Frontier Group from $4.70 to $7.15 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Susquehanna upped their price target on Frontier Group from $3.00 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, Raymond James raised Frontier Group from an “underperform” rating to a “market perform” rating in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.12.

Insider Activity at Frontier Group

In other Frontier Group news, SVP Steve Schuller sold 10,000 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 34,035 shares of the company’s stock, valued at $204,210. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 81.50% of the stock is currently owned by corporate insiders.

Frontier Group Company Profile

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.