Frontier Group (NASDAQ:ULCC) Posts Earnings Results

Frontier Group (NASDAQ:ULCC – Get Rating) announced its earnings results on Thursday. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.37) by ($0.13), MarketWatch Earnings reports. Frontier Group had a negative net margin of 4.95% and a negative return on equity of 63.79%. The business had revenue of $605.00 million during the quarter, compared to analyst estimates of $611.66 million. During the same period in the previous year, the company earned ($0.86) earnings per share. The business’s revenue for the quarter was up .0% on a year-over-year basis.

Shares of NASDAQ ULCC opened at $10.61 on Friday. Frontier Group has a 1-year low of $9.48 and a 1-year high of $22.70. The company has a quick ratio of 0.76, a current ratio of 0.78 and a debt-to-equity ratio of 0.62. The business’s fifty day moving average price is $11.37 and its two-hundred day moving average price is $13.38.

ULCC has been the topic of several research reports. Barclays dropped their price target on Frontier Group from $23.00 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, January 14th. Zacks Investment Research raised Frontier Group from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Bank of America raised Frontier Group from a “neutral” rating to a “buy” rating and dropped their price target for the company from $19.00 to $18.00 in a research report on Friday, January 7th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $20.09.

A number of hedge funds and other institutional investors have recently modified their holdings of ULCC. Morgan Stanley acquired a new stake in Frontier Group in the second quarter worth $919,000. Royal Bank of Canada acquired a new stake in Frontier Group in the second quarter worth $81,000. UBS Group AG increased its position in Frontier Group by 17.4% in the third quarter. UBS Group AG now owns 46,939 shares of the company’s stock worth $742,000 after buying an additional 6,961 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Frontier Group by 18.6% in the third quarter. Bank of New York Mellon Corp now owns 99,746 shares of the company’s stock worth $1,575,000 after purchasing an additional 15,678 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Frontier Group by 775.2% in the fourth quarter. Bank of America Corp DE now owns 37,723 shares of the company’s stock worth $512,000 after purchasing an additional 33,413 shares in the last quarter. 16.46% of the stock is currently owned by hedge funds and other institutional investors.

About Frontier Group (Get Rating)

Frontier Group Holdings, Inc, a low-fare airline company, provides air transportation for passengers. The company operates an airline that serves approximately 120 airports throughout the United States and international destinations in the Americas. It offers its services through direct distribution channels, including its website, mobile app, and call center.

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