Frontdoor (NASDAQ:FTDR) Releases Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Frontdoor (NASDAQ:FTDR – Get Rating) announced its quarterly earnings data on Thursday. The company reported $0.53 earnings per share 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 company had revenue of $487.00 million during the quarter, compared to the consensus estimate of $476.55 million. During the same quarter in the previous year, the business earned $0.76 EPS. Frontdoor’s 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 Trading Up 3.6 %

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

Wall Street Analysts Forecast Growth

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

Insider Activity

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

Institutional Investors Weigh In On Frontdoor

A number of institutional investors and hedge funds have recently made changes to their positions in FTDR. MetLife Investment Management LLC acquired a new stake in shares of Frontdoor in the 1st quarter worth about $128,000. Raymond James & Associates grew its position in Frontdoor by 25.1% in the 1st quarter. Raymond James & Associates now owns 9,646 shares of the company’s stock worth $288,000 after purchasing an additional 1,933 shares in the last quarter. Bridgefront Capital LLC bought a new stake in Frontdoor in the 1st quarter worth about $291,000. Ensign Peak Advisors Inc grew its position in Frontdoor by 372.6% in the 1st quarter. Ensign Peak Advisors Inc now owns 12,500 shares of the company’s stock worth $373,000 after purchasing an additional 9,855 shares in the last quarter. Finally, Citigroup Inc. grew its position in Frontdoor by 42.5% in the 1st quarter. Citigroup Inc. now owns 13,991 shares of the company’s stock worth $418,000 after purchasing an additional 4,172 shares in the last quarter.

About Frontdoor

(Get Rating)

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.