Frontier Group (NASDAQ:ULCC) Updates Q1 Earnings Guidance

Frontier Group (NASDAQ:ULCC) issued an update on its first quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $(0.24)-(0.20) for the period, compared to the consensus earnings per share estimate of ($0.04).

Frontier Group Stock Down 12.5 %

Frontier Group stock traded down $0.51 during midday trading on Thursday, reaching $3.57. The stock had a trading volume of 4,348,899 shares, compared to its average volume of 2,409,238. The company has a market capitalization of $811.28 million, a P/E ratio of 9.92 and a beta of 2.52. The company has a fifty day moving average price of $6.52 and a two-hundred day moving average price of $6.60. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.45. Frontier Group has a 12 month low of $2.79 and a 12 month high of $10.26.

Frontier Group (NASDAQ:ULCC) last released its quarterly earnings results on Friday, February 7th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.20. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. As a group, equities analysts expect that Frontier Group will post 0.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ULCC shares. Barclays dropped their price objective on shares of Frontier Group from $14.00 to $10.00 and set an “overweight” rating for the company in a report on Tuesday. Bank of America lowered their target price on shares of Frontier Group from $10.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Deutsche Bank Aktiengesellschaft downgraded Frontier Group from a “buy” rating to a “hold” rating and cut their target price for the company from $12.00 to $8.00 in a research note on Tuesday, March 4th. UBS Group reduced their price objective on Frontier Group from $7.00 to $4.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Morgan Stanley boosted their price objective on Frontier Group from $7.00 to $10.00 and gave the company an “equal weight” rating in a research note on Monday, February 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $6.47.

Insiders Place Their Bets

In other news, SVP Alexandre Clerc sold 15,152 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $6.63, for a total transaction of $100,457.76. Following the completion of the sale, the senior vice president now owns 23,912 shares in the company, valued at approximately $158,536.56. This represents a 38.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Barry Biffle sold 160,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $8.38, for a total transaction of $1,340,800.00. Following the completion of the transaction, the chief executive officer now directly owns 864,817 shares of the company’s stock, valued at approximately $7,247,166.46. This represents a 15.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 535,982 shares of company stock worth $4,515,647 in the last ninety days. 81.50% of the stock is owned by company 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.