Frontdoor (NASDAQ:FTDR) Announces Quarterly Earnings Results

Frontdoor (NASDAQ:FTDRGet Rating) released its quarterly earnings data on Thursday. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.04), Briefing.com reports. Frontdoor had a net margin of 7.70% and a return on equity of 1,319.15%. The business had revenue of $487.00 million during the quarter, compared to the consensus estimate of $476.55 million. During the same quarter in the prior year, the company earned $0.76 EPS. Frontdoor’s quarterly revenue was up 5.4% on a year-over-year basis. Frontdoor updated its Q3 2022 guidance to EPS and its FY 2022 guidance to EPS.

Frontdoor Stock Performance

FTDR traded up $0.89 during midday trading on Friday, reaching $25.96. The company had a trading volume of 1,602,347 shares, compared to its average volume of 1,182,404. The company has a debt-to-equity ratio of 304.00, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market cap of $2.14 billion, a PE ratio of 17.77, a P/E/G ratio of 0.81 and a beta of 0.49. Frontdoor has a 12-month low of $20.30 and a 12-month high of $48.66. The business has a 50-day moving average price of $24.41 and a two-hundred day moving average price of $28.86.

Analysts Set New Price Targets

FTDR has been the topic of several research reports. The Goldman Sachs Group downgraded Frontdoor from a “neutral” rating to a “sell” rating and decreased their target price for the company from $27.00 to $21.00 in a research report on Thursday, June 9th. Truist Financial downgraded Frontdoor from a “buy” rating to a “hold” rating and lowered their target price for the stock from $32.00 to $29.00 in a research note on Monday, May 23rd. Oppenheimer lowered their target price on Frontdoor from $41.00 to $34.00 in a research note on Friday, May 6th. Finally, Raymond James lowered their price objective on Frontdoor from $31.00 to $27.00 and set an “outperform” rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $33.50.

Insider Activity at Frontdoor

In other Frontdoor news, Director Anna C. Catalano purchased 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 25th. The shares were bought at an average cost of $25.00 per share, for a total transaction of $100,000.00. Following the purchase, the director now owns 20,595 shares of the company’s stock, valued at approximately $514,875. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director William C. Cobb bought 10,000 shares of the stock in a transaction on Monday, May 23rd. The shares were acquired at an average cost of $25.51 per share, for a total transaction of $255,100.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $255,100. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Anna C. Catalano purchased 4,000 shares of the firm’s stock in a transaction dated Wednesday, May 25th. The stock was bought at an average cost of $25.00 per share, for a total transaction of $100,000.00. Following the acquisition, the director now directly owns 20,595 shares in the company, valued at $514,875. The disclosure for this purchase can be found here. 0.68% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Frontdoor

A number of institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP bought a new stake in Frontdoor in the 1st quarter worth $4,469,000. Jane Street Group LLC increased its holdings in Frontdoor by 575.8% during the 1st quarter. Jane Street Group LLC now owns 138,523 shares of the company’s stock valued at $4,135,000 after purchasing an additional 118,025 shares during the period. Willis Investment Counsel grew its holdings in shares of Frontdoor by 135.0% during the 1st quarter. Willis Investment Counsel now owns 65,049 shares of the company’s stock worth $1,942,000 after acquiring an additional 37,374 shares during the period. Ergoteles LLC purchased a new position in shares of Frontdoor during the 1st quarter worth approximately $1,104,000. Finally, Walleye Capital LLC purchased a new position in shares of Frontdoor during the 1st quarter worth approximately $647,000.

Frontdoor Company Profile

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Frontdoor, Inc provides home service plans in the United States. The company's home service plans cover 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 central heating, ventilation, and air conditioning systems.

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Earnings History for Frontdoor (NASDAQ:FTDR)

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