Frontdoor (NASDAQ: FTDR) releases earnings results, missing forecasts by $0.04 EPS

Frontdoor (NASDAQ: FTDR – Get Rating) released its quarterly earnings data on Thursday. The company reported $0.53 earnings per share for the quarter, below analyst consensus estimates of $0.57 ($0.04), Briefing.com reports. The company generated $487.00 million in revenue for the quarter, compared to analysts’ expectations of $476.55 million. Frontdoor generated a return on equity of 1,319.15% and a net margin of 7.70%. The company’s fourth-quarter revenue increased 5.4% compared to the same quarter last year. During the same quarter last year, the company reported $0.76 in earnings per share. Frontdoor has updated its third-quarter 2022 guidance to EPS and its fiscal year 2022 guidance to EPS.

Front door inventory increased 3.6%

FTDR stock traded up $0.89 during midday Friday, reaching $25.96. 1,602,347 shares of the company’s stock were traded, compared to an average trading volume of 1,182,404. The company’s current ratio is 0.70, the 0.70 ratio and the debt-to-equity ratio is 304.00. Frontdoor recorded a 12-month low of $20.30 and a 12-month high of $48.66. The company has a 50-day moving average of $24.41 and a 200-day moving average of $28.86. The stock has a market capitalization of $2.14 billion, a price-earnings ratio of 17.77, a price-earnings ratio of 0.81 and a beta of 0.49.

Analysts are promoted and lowered

FTDR has been the subject of a number of research analyst reports. Raymond James cut his price target on Frontdoor from $31.00 to $27.00 and placed an “outstanding” rating on the stock in a research note on Friday. Trust Financial cut Frontdoor from a “buy” rating to a “hold” rating and lowered its price target for the stock from $32.00 to $29.00 in a research note on Monday, May 23. Goldman Sachs Group Frontdoor cut it from a “neutral” rating to a “sell” rating and lowered its price target for the company from $27.00 to $21.00 in a research note on Thursday, June 9th. Finally, Oppenheimer lowered the price target on the Frontdoor from $41.00 to $34.00 in a research note on Friday, May 6. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat data, the company has an average rating of “Hold” and a price target of $33.50.

Insiders are placing their bets

In other news, director William C. Cobb purchased 10,000 shares of the stock in a transaction dated Monday, May 23. The stock was acquired at an average cost of $25.51 per share, for a total of $255,100.00 of transactions. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $255,100. The acquisition was disclosed on file with the SEC, which is available at this link. In related news, Director William C. Cobb acquired 10,000 shares of the stock in a transaction that took place on Monday, May 23. The stock was purchased at an average cost of $25.51 per share, for a total transaction of $255,100.00. After the purchase, the director now directly owns 10,000 shares in the company, valued at $255,100. The purchase was disclosed in a legal filing with the Securities and Exchange Commission, which can be accessed through this link. Director Anna C. Catalano also acquired 4,000 shares of the stock in a transaction that took place on Wednesday, May 25. The shares were purchased at an average price of $25.00 per share, with a total value of $10,0000.00. After completing the purchase, the manager now owns 20,595 shares in the company, valued at $514,875. The disclosure of this purchase can be found here. 0.68% of the shares are owned by company insiders.

Institutional inflows and outflows

A number of institutional investors have recently added or reduced their stakes in the business. BlackRock Corporation raised its stakes in Frontdoor shares by 7.1% in the first quarter. BlackRock now owns 3,755,323 shares of the company’s stock valued at $112,096,000 after purchasing an additional 249,371 shares during the period. State Street Corp. raised its position in Frontdoor shares by 13.9% during the first quarter. State Street Corp. now owns 1,401,868 shares of the company’s stock, valued at $41,846,000 after purchasing an additional 170,968 shares during the period. Caisse DE Depot ET Placement DU Quebec acquired a new stake in Frontdoor stock during the first quarter valued at $4,890,000. First Trust Advisors LP acquired a new stake in Frontdoor shares during the first quarter valued at $4,469,000. Finally, Bank of America Corp. DE raised its position in Frontdoor shares by 31.4% during the first quarter. Bank of America Corp. DE now owns 576,777 shares of the company’s stock valued at $17,218,000 after purchasing an additional 137,911 shares during the period.

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 major components for nearly 20 home systems and appliances, including electrical, plumbing, water heaters, refrigerators, dishwashers, and ovens/stoves combinations, as well as electronics, swimming pools, spas and pumps; Central heating, ventilation and air conditioning systems.

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Front Door Earnings Record (NASDAQ: FTDR)

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