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 Performance

ULCC traded down $0.51 on Thursday, hitting $3.57. 4,348,899 shares of the stock traded hands, compared to its average volume of 2,409,238. The business 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 52 week low of $2.79 and a 52 week high of $10.26. The firm has a market capitalization of $811.28 million, a PE ratio of 9.92 and a beta of 2.52.

Frontier Group (NASDAQ:ULCC) last issued its earnings results on Friday, February 7th. The company reported $0.23 earnings per share for the quarter, beating 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%. On average, research analysts predict that Frontier Group will post 0.91 EPS for the current fiscal year.

Analyst Ratings Changes

ULCC has been the subject of several recent analyst reports. Morgan Stanley raised their price objective on shares of Frontier Group from $7.00 to $10.00 and gave the stock an “equal weight” rating in a report on Monday, February 24th. Susquehanna cut their price objective on shares of Frontier Group from $9.00 to $3.00 and set a “neutral” rating on the stock in a report on Monday. Barclays reduced their price target on shares of Frontier Group from $14.00 to $10.00 and set an “overweight” rating on the stock in a research report on Tuesday. Deutsche Bank Aktiengesellschaft downgraded shares of Frontier Group from a “buy” rating to a “hold” rating and lowered their price objective for the company from $12.00 to $8.00 in a report on Tuesday, March 4th. Finally, Citigroup reissued a “neutral” rating and set a $7.25 price target on shares of Frontier Group in a research report on Thursday, March 20th. One 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $6.47.

Insiders Place Their Bets

In related news, 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 sale, the chief executive officer now owns 864,817 shares of the company’s stock, valued at $7,247,166.46. This trade represents a 15.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Alexandre Clerc sold 15,152 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $6.63, for a total value of $100,457.76. Following the sale, the senior vice president now owns 23,912 shares in the company, valued at $158,536.56. This represents a 38.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 535,982 shares of company stock worth $4,515,647 over the last three months. Insiders own 81.50% of the company’s stock.

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.