Frontdoor (NASDAQ:FTDR) Issues Earnings Results

Frontdoor (NASDAQ:FTDR) announced its quarterly earnings data on Monday. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.33, Briefing.com reports. The company had revenue of $540.00 million during the quarter, compared to the consensus estimate of $541.88 million. Frontdoor had a net margin of 11.38% and a return on equity of 132.94%. The company’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.94 EPS. Frontdoor updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

Frontdoor Stock Performance

FTDR traded up $2.52 during trading on Wednesday, hitting $57.34. The stock had a trading volume of 1,048,423 shares, compared to its average volume of 727,286. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.27 and a quick ratio of 1.27. The company has a 50 day moving average price of $49.02 and a 200-day moving average price of $41.49. Frontdoor has a one year low of $29.41 and a one year high of $57.49. The firm has a market cap of $4.39 billion, a price-to-earnings ratio of 18.64 and a beta of 1.03.

Analyst Ratings Changes

A number of brokerages have weighed in on FTDR. JPMorgan Chase & Co. boosted their price target on Frontdoor from $45.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. William Blair upgraded Frontdoor from a “market perform” rating to an “outperform” rating in a research note on Friday, August 2nd. The Goldman Sachs Group lifted their price objective on shares of Frontdoor from $41.00 to $46.00 and gave the stock a “sell” rating in a research report on Tuesday. Finally, Truist Financial increased their price objective on shares of Frontdoor from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $49.50.

About Frontdoor

Frontdoor, Inc provides home warranties in the United States in the United States. Its customizable home warranties help customers protect and maintain their homes from costly and unplanned breakdowns of essential home systems and appliances. The company’s home warranty customers subscribe to an annual service plan agreement that covers 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 heating, ventilation, and air conditioning systems.